2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 17 - Officers, Directors and Shareholders
1721 - Board of directors.

                               SUBCHAPTER C
                          DIRECTORS AND OFFICERS

     Sec.
     § 1721.  Board of directors.
     § 1722.  Qualifications of directors.
     § 1723.  Number of directors.
     § 1724.  Term of office of directors.
     § 1725.  Selection of directors.
     § 1726.  Removal of directors.
     § 1727.  Quorum of and action by directors.
     § 1728.  Interested directors or officers; quorum.
     § 1729.  Voting rights of directors.
     § 1730.  Compensation of directors.
     § 1731.  Executive and other committees of the board.
     § 1732.  Officers.
     § 1733.  Removal of officers and agents.

        Enactment.  Subchapter C was added as Subchapter B December
     21, 1998, P.L.1444, No.177, effective October 1, 1989, and was
     relettered to Subchapter C December 19, 1990, P.L.834, No.198,
     effective immediately.
     § 1721.  Board of directors.
        (a)  General rule.--Unless otherwise provided by statute or
     in a bylaw adopted by the shareholders, all powers enumerated in
     section 1502 (relating to general powers) and elsewhere in this
     subpart or otherwise vested by law in a business corporation
     shall be exercised by or under the authority of, and the
     business and affairs of every business corporation shall be
     managed under the direction of, a board of directors. If any
     such provision is made in the bylaws, the powers and duties
     conferred or imposed upon the board of directors by this subpart
     shall be exercised or performed to such extent and by such
     person or persons as shall be provided in the bylaws. Persons
     upon whom the liabilities of directors are imposed by this
     section shall to that extent be entitled to the rights and
     immunities conferred by or pursuant to this part and other
     provisions of law upon directors of a corporation.
        (b)  Cross reference.--See section 2527 (relating to
     authority of board of directors).
     (Apr. 27, 1990, P.L.129, No.36, eff. imd.; Dec. 19, 1990,
     P.L.834, No.198, eff. imd.; June 22, 2001, P.L.418, No.34, eff.
     60 days)

        Cross References.  Section 1721 is referred to in sections
     1502, 1504 of this title.