2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 25 - Registered Corporations
2501 - Application and effect of chapter.

                                CHAPTER 25
                         REGISTERED CORPORATIONS

     Subchapter
        A.  Preliminary Provisions
        B.  Powers, Duties and Safeguards
        C.  Directors and Shareholders
        D.  Fundamental Changes Generally
        E.  Control Transactions
        F.  Business Combinations
        G.  Control-Share Acquisitions
        H.  Disgorgement by Certain Controlling Shareholders Following
            Attempts to Acquire Control
        I.  Severance Compensation for Employees Terminated Following
            Certain Control-Share Acquisitions
        J.  Business Combination Transactions - Labor Contracts

        Enactment.  Chapter 25 was added December 21, 1988, P.L.1444,
     No.177, effective October 1, 1989.

                               SUBCHAPTER A
                          PRELIMINARY PROVISIONS

     Sec.
     2501.  Application and effect of chapter.
     2502.  Registered corporation status.
     2503.  Acquisition of registered corporation status.
     2504.  Termination of registered corporation status.
     § 2501.  Application and effect of chapter.
        (a)  General rule.--Except as otherwise provided in the scope
     provisions of subsequent subchapters of this chapter, this
     chapter shall be applicable to any business corporation that is
     a registered corporation as defined in section 2502 (relating to
     registered corporation status).
        (b)  Laws applicable to registered corporations.--Except as
     otherwise provided in this chapter, this subpart shall be
     generally applicable to all registered corporations. The
     specific provisions of this chapter shall control over the
     general provisions of this subpart. Except as otherwise provided
     in this article, a registered corporation may be simultaneously
     subject to this chapter and one or more other chapters of this
     article.
        (c)  Effect of a contrary provision of the articles.--
            (1)  The articles of a registered corporation may provide
        either expressly or by necessary implication that any one or
        more of the provisions of Subchapters B (relating to powers,
        duties and safeguards), C (relating to directors and
        shareholders) and D (relating to fundamental changes
        generally) shall not be applicable in whole or in part to the
        corporation.
            (2)  The articles of a registered corporation may provide
        that any one or more of the provisions of Subchapter E
        (relating to control transactions) and following of this
        chapter shall not be applicable in whole or in part to the
        corporation only if, to the extent and in the manner,
        expressly permitted by the subchapter the applicability of
        which is so affected. Where any provision of Subchapter E and
        following of this chapter permits the applicability of a
        subchapter to be varied by a provision of the articles, the
        applicability may be varied by an amendment of the articles
        only if, to the extent and in the manner, expressly permitted
        by the subchapter the applicability of which is so affected.
        (d)  Rights cumulative.--The rights, remedies, prohibitions
     and requirements provided in Subchapter E and following of this
     chapter shall be in addition to and not in lieu of any other
     rights, remedies, prohibitions or requirements provided by this
     subpart, the articles or bylaws of the corporation, any
     securities, option rights or obligations of the corporation or
     otherwise.
     (Dec. 18, 1992, P.L.1333, No.169, eff. 60 days)

        1992 Amendment.  Act 169 amended subsec. (c) and added
     subsec. (d).