2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 25 - Registered Corporations
2567 - Redemption.

     § 2567.  Redemption.
        Unless prohibited by the terms of the articles of a
     registered corporation in effect before a control-share
     acquisition has occurred, the corporation may redeem all control
     shares from the acquiring person at the average of the high and
     low sales price of shares of the same class and series as such
     prices are specified on a national securities exchange, national
     quotation system or similar quotation listing service on the
     date the corporation provides notice to the acquiring person of
     the call for redemption:
            (1)  at any time within 24 months after the date on which
        the acquiring person consummates a control-share acquisition,
        if the acquiring person does not, within 30 days after
        consummation of the control-share acquisition, properly
        request that the issue of voting rights to be accorded
        control shares be presented to the shareholders under section
        2565(a) or (b) (relating to procedure for establishing voting
        rights of control shares); and
            (2)  at any time within 24 months after the issue of
        voting rights to be accorded such shares is submitted to the
        shareholders pursuant to section 2565(a) or (b); and
                (i)  such voting rights are not accorded pursuant to
            section 2564(a) (relating to voting rights of shares
            acquired in control-share acquisition); or
                (ii)  such voting rights are accorded and
            subsequently lapse pursuant to section 2564(b) (relating
            to lapse of voting rights).
     (Dec. 19, 1990, P.L.834, No.198, eff. imd.)

        1990 Amendment.  Act 198 amended and renumbered section 2566
     to section 2567 and renumbered former section 2567 to section
     2568.