Title 15, CORPORATIONS AND UNINCORPORATED ASSOCIATIONS

(a) General rule.--A nonprofit association may be dissolved as follows: (1) if the governing principles provide a time or method for dissolution, at that time or by that method; (2) if the governing principles do not provide a time or method for dissolution, upon approval by the …

Winding up of a nonprofit association must proceed in accordance with the following rules: (1) All known debts and liabilities shall be paid or adequately provided for. (2) Any property subject to a condition requiring return to the person designated by the donor shall be transfe…

If and to the extent canon law or similar principles applicable to a nonprofit association organized for religious purposes sets forth provisions relating to the government and regulation of the affairs of the nonprofit association that are inconsistent with the provisions of thi…

This chapter shall be known and may be cited as the Professional Association Act of 1988.

(a) General rule.--This chapter shall apply to and the word "association" in this chapter shall mean a professional association organized under the act of August 7, 1961 (P.L.941, No.416), known as the Professional Association Act, which has not: (1) Reorganized as an electing pa…

The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Associates." The members of any association. "Profession." Includes all occupations legally or traditionally designated…

An association may be organized only for the purpose of rendering the one specific kind of professional service its associates are authorized to render, and it shall not engage in any business other than rendering the professional service for which it was organized. The professio…

(a) General rule.--The articles of association shall contain the name of the association, the names and addresses of all of the associates, the address of the principal office of the association and a general purpose clause of the association. One copy of the articles of associat…

The associates shall elect a board of governors which shall manage all of the affairs of the association. The membership of the board of governors shall consist of one or more persons who may but need not be associates. The board shall elect a chairman, a secretary, a treasurer a…

The associates shall adopt bylaws to regulate the affairs of the association. The bylaws shall provide for: (1) The method of election of the members of the board of governors. (2) The number of members of the board of governors. (3) The method of election of officers of the boar…

The board of governors may engage such employees as it deems necessary for the operation of the association. An employee shall not be engaged to render professional services unless he is duly licensed or otherwise legally authorized to render the professional services in this Com…

The board of governors shall have the right to establish the amount and method of compensation of all of the employees.

The board of governors may establish what portion of excess earnings of the association shall be distributed among the associates. Any distribution of excess earnings of the association shall be made to each associate according to his proportionate ownership in the association.…

The portion of ownership of each associate in an association shall be evidenced by an ownership certificate.

Any associate or the personal representative of his estate may transfer, in whole or in part, his interest in an association only to a transferee who is licensed or otherwise legally authorized to render the same kind of professional service which the association was organized to…

An association may, upon agreement with any associate (including any associate who has been expelled) or the personal representative of his estate, redeem the interest in the association of the associate or his estate.

An association may be organized for any term of years or its existence may be perpetual. Neither death, bankruptcy, resignation, expulsion, insanity, retirement nor transfer or redemption of the interest of any associate shall cause its dissolution.

The associates may adopt any name for their association which is not contrary to law or the ethics of their profession.

At any meeting of the associates of an association, each associate shall have the right to vote according to his proportionate ownership in the association.

(a) Joint and several liability.--All of the associates of an association are liable, jointly and severally, for: (1) The torts of any agent or employee of the association committed while the agent or employee is acting within the ordinary course of operation of the association. …

If any agent or employee of the association engaged for the purpose of rendering professional services or any associate becomes legally disqualified to render professional services, the agency or employment shall be immediately terminated upon disqualification and, in the case of…

(a) General rule.--An association shall be dissolved only upon the occurrence of one of the following: (1) Expiration of the term of existence as provided in the bylaws of the association but not until articles of dissolution have been filed as provided in subsection (c). (2) Upo…

(a) General rule.-- (1) Unless the context clearly indicates otherwise, this chapter shall apply to and the words "business trust" in this chapter shall mean an association organized as a trust: (i) Whose deed of trust or other organic document has been filed in the department an…

(a) Creation.-- Except as provided in the instrument, the trustee has the power: (1) To receive title to, hold, buy, sell, exchange, transfer and convey real and personal property for the use of the business trust. (2) To take, receive, invest or disburse the receipts, earnings, …

(a) General rule.--A business trust shall not be valid unless created by deed of trust or other written instrument subscribed by one or more individuals, associations or other entities. The trustees of a business trust shall promptly cause the instrument or any amendment thereof,…

(a) General rule.--The instrument shall set forth, subject to section 109 (relating to name of commercial registered office provider in lieu of registered address), the address, including street and number, if any, of the registered office of the business trust in this Commonweal…

(a) Succession of trustees.--An instrument may provide for the succession of title to any trust property not titled in the name of the trust to a successor trustee, in case of the death, resignation, removal or incapacity of any trustee. In the case of any such succession, the ti…

(a) General rule.-- (1) Except as otherwise provided in the instrument, the beneficiaries of a business trust shall be entitled to the same limitation of personal liability as is extended to shareholders in a domestic business corporation. (2) Except as otherwise provided in the …

(a) General rule.--(Deleted by amendment). (b) Provision applicable to all foreign business trusts.--Section 9506(c) (relating to certain specifically authorized debt terms) shall be applicable to any obligation, as defined in section 1510 (relating to certain specifically author…