2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 17 - Officers, Directors and Shareholders
1757 - Action by shareholders.

     § 1757.  Action by shareholders.
        (a)  General rule.--Except as otherwise provided in this
     subpart or in a bylaw adopted by the shareholders, whenever any
     corporate action is to be taken by vote of the shareholders of a
     business corporation, it shall be authorized upon receiving the
     affirmative vote of a majority of the votes cast by all
     shareholders entitled to vote thereon and, if any shareholders
     are entitled to vote thereon as a class, upon receiving the
     affirmative vote of a majority of the votes cast by the
     shareholders entitled to vote as a class.
        (b)  Changes in required vote.--Whenever a provision of this
     subpart requires a specified number or percentage of votes of
     shareholders or of a class of shareholders for the taking of any
     action, a business corporation may prescribe in a bylaw adopted
     by the shareholders that a higher number or percentage of votes
     shall be required for the action. See sections 1504(d) (relating
     to amendment of voting provisions) and 1914(e) (relating to
     amendment of voting provisions).
        (c)  Expenses.--Unless otherwise restricted in the articles,
     the corporation shall pay the reasonable expenses of
     solicitation of votes, proxies or consents of shareholders by or
     on behalf of the board of directors or its nominees for election
     to the board, including solicitation by professional proxy
     solicitors and otherwise, and may pay the reasonable expenses of
     a solicitation by or on behalf of other persons.
     (Dec. 19, 1990, P.L.834, No.198, eff. imd.)

        1990 Amendment.  Act 198 amended subsec. (a).
        Cross References.  Section 1757 is referred to in section
     1504 of this title.