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Pennsylvania Statutes, Title 15

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Title 15, CORPORATIONS AND UNINCORPORATED ASSOCIATIONS

42 chapters · 1,033 sections in this title.

All chapters in Title 151,033 Ch 57, Officers, Directors and Members69 Ch 17, Officers, Directors and Shareholders66 Ch 86, Limited Partnerships61 Ch 25, Registered Corporations57 Ch 59, Amendments, Sale of Assets and Disso…57 Ch 88, Limited Liability Companies57 Ch 3, Entity Transactions56 Ch 19, Fundamental Changes54 Ch 84, General Partnerships48 Ch 15, Corporate Powers, Duties and Safeguards39 Ch 1, General Provisions38 Ch 55, Corporate Powers, Duties and Safeguards34 Ch 73, Electric Cooperative Corporations32 Ch 91, Unincorporated Nonprofit Associations29

11 sections·Filtered byTitle 15✕Ch 21✕

15 Pa.C.S. § 2101 Application and effect of chapter
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(a) General rule.--This chapter shall be applicable to: (1) A business corporation that elects to become a nonstock corporation in the manner provided by this chapter. (2) A domestic corporation for profit subject to Subpart D (relating to cooperative corporations) organized on a…
15 Pa.C.S. § 2102 Formation of nonstock corporations
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(a) General rule.--A nonstock corporation shall be formed in accordance with Article B (relating to domestic business corporations generally) except that its articles shall contain: (1) A heading stating the name of the corporation and that it is a nonstock corporation. (2) The p…
15 Pa.C.S. § 2103 Contents of articles and other documents of nonstock corporations
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In lieu of required statements relating to shares or share structure, a nonstock corporation shall set forth in any document permitted or required to be filed under this subpart the fact that the corporation is organized on a nonstock basis. A nonstock corporation may, but need n…
15 Pa.C.S. § 2104 Election of an existing business corporation to become a nonstock corporation
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(a) General rule.--Any business corporation may become a nonstock corporation under this chapter by: (1) Adopting a plan of election providing for the redemption by the corporation of all of its shares whether or not redeemable by the terms of its articles and adjusting its affai…

15 Pa.C.S. § 2105 Termination of nonstock corporation status

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(a) General rule.--A nonstock corporation may terminate its status as such and cease to be subject to this chapter by: (1) Adopting a plan of termination providing for the issue of appropriate shares to its members and adjusting its affairs so as to comply with the requirements o…

15 Pa.C.S. § 2121 Corporate name of nonstock corporations

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(a) General rule.--The corporate name of a nonstock corporation may contain the word "mutual." (b) Insurance names.--See section 202(c)(1)(iii) (relating to requirements for names generally). (Dec. 19, 1990, P.L.834, No.198, eff. imd.; Oct. 22, 2014, P.L.2640, No.172, eff. July 1…

15 Pa.C.S. § 2122 Classes of membership

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The bylaws of a nonstock corporation adopted by the members may vest in the board of directors the power to establish classes of membership and to fix the several rights and liabilities thereof. Cross References. Section 2122 is referred to in section 1504 of this title.

15 Pa.C.S. § 2123 Evidence of membership; liability of members

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(a) General rule.--Every member of record of a nonstock corporation shall be entitled to a written document evidencing his membership in the corporation. The document shall state: (1) That the corporation is a nonstock corporation incorporated under the laws of this Commonwealth,…

15 Pa.C.S. § 2124 Voting rights of members

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Except as otherwise provided in a bylaw adopted by the members or in a written document evidencing membership, every member of record of a nonstock corporation shall have the right, at every meeting of members, to one vote. Cross References. Section 2124 is referred to in section…

15 Pa.C.S. § 2125 Inapplicability of certain provisions to nonstock corporations

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(a) Share structure.--The provisions of Subchapter B of Chapter 15 (relating to shares and other securities) shall not be applicable to a nonstock corporation. A nonstock corporation shall not create or issue shares. (b) Corporate finance.--A patronage rebate or dividend that is,…

15 Pa.C.S. § 2126 Dissolution of nonstock corporations

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If at the time of dissolution of a nonstock corporation the articles, bylaws and documents evidencing membership fail to define the respective rights and preferences of the members upon dissolution, the surplus of cash or property remaining after discharging all liabilities of th…