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§ 1102. Application of subpart

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 Pa.C.S.A. Corporations and Unincorporated AssociationsEffective: January 3, 2023

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 15 Pa.C.S.A. Corporations and Unincorporated Associations (Refs & Annos)
Part II. Corporations (Refs & Annos)
Subpart B. Business Corporations (Refs & Annos)
Article a. Preliminary Provisions
Chapter 11. General Provisions (Refs & Annos)
Effective: January 3, 2023
15 Pa.C.S.A. § 1102
§ 1102. Application of subpart
(a) General rule.--Except as otherwise provided in this section, in the scope provisions of subsequent provisions of this subpart or where the context clearly indicates otherwise, this subpart shall apply to and the words “corporation” or “business corporation” in this subpart shall mean a domestic corporation for profit. See section 101(b) (relating to application of title).
(b) Coordination with other laws.--Where any other provision of law contemplates notice to, the presence of or the vote, consent or other action by the shareholders, directors or officers of a business corporation, without specifying the applicable corporate standards and procedures, the standards and procedures specified by or pursuant to this subpart shall be applicable.
(c) Exclusions.--This subpart shall not apply to any of the following corporations, whether proposed or existing, except as otherwise expressly provided in this subpart or as otherwise provided by statute applicable to the corporation:
(1) A banking institution.
(2) A credit union.
(3) Deleted by 2022, Nov. 3, P.L. 1791, No. 122, § 28, effective in 60 days [Jan. 3, 2023].
(d) Cooperative corporations.--This subpart shall apply to a domestic corporation for profit organized on the cooperative principle only to the extent provided by Subpart D (relating to cooperative corporations).
(e) Business corporation ancillaries.--The domestic corporation provisions of this subpart shall apply to any of the following corporations, whether proposed or existing, except as otherwise expressly provided by statute applicable to the corporation:
(1) A business development credit corporation.
(2) Any other domestic corporation for profit incorporated under or subject to a statute that provides that the corporate affairs of the corporation shall be governed by the laws applicable to domestic business corporations.

Credits

1988, Dec. 21, P.L. 1444, No. 177, § 103, effective Oct. 1, 1989. Amended 1990, Dec. 19, P.L. 834, No. 198, § 102; 2022, Nov. 3, P.L. 1791, No. 122, § 28, effective in 60 days [Jan. 3, 2023].
15 Pa.C.S.A. § 1102, PA ST 15 Pa.C.S.A. § 1102
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document