2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 15 - Corporate Powers, Duties and Safeguards
1576 - Failure to comply with notice to demand payment, etc.

     § 1576.  Failure to comply with notice to demand payment, etc.
        (a)  Effect of failure of shareholder to act.--A shareholder
     who fails to timely demand payment, or fails (in the case of
     certificated shares) to timely deposit certificates, as required
     by a notice pursuant to section 1575 (relating to notice to
     demand payment) shall not have any right under this subchapter
     to receive payment of the fair value of his shares.
        (b)  Restriction on uncertificated shares.--If the shares are
     not represented by certificates, the business corporation may
     restrict their transfer from the time of receipt of demand for
     payment until effectuation of the proposed corporate action or
     the release of restrictions under the terms of section 1577(a)
     (relating to failure to effectuate corporate action).
        (c)  Rights retained by shareholder.--The dissenter shall
     retain all other rights of a shareholder until those rights are
     modified by effectuation of the proposed corporate action.
     (Dec. 19, 1990, P.L.834, No.198, eff. imd.)

        1990 Amendment.  Act 198 amended subsec. (a).