2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 27 - Management Corporations
2701 - Application and effect of chapter.

                                CHAPTER 27
                         MANAGEMENT CORPORATIONS

     Subchapter
        A.  Preliminary Provisions
        B.  Directors and Shareholders
        C.  Fundamental Changes

        Enactment.  Chapter 27 was added December 19, 1990, P.L.834,
     No.198, effective immediately.
        Prior Provisions.  Former Chapter 27, which related to the
     same subject matter, was added December 21, 1988, P.L.1444,
     No.177, and repealed December 19, 1990, P.L.834, No.198,
     effective immediately.
        Cross References.  Chapter 27 is referred to in section 1103
     of this title.

                               SUBCHAPTER A
                          PRELIMINARY PROVISIONS

     Sec.
     2701.  Application and effect of chapter.
     2702.  Formation of management corporations.
     2703.  Additional contents of articles of management
            corporations.
     2704.  Election of an existing business corporation to become
            a management corporation.
     2705.  Termination and renewal of status as a management
            corporation.
     § 2701.  Application and effect of chapter.
        (a)  General rule.--This chapter shall be applicable to a
     business corporation, other than a statutory close corporation
     or a professional corporation, that elects to become a
     management corporation in the manner provided by this chapter.
        (b)  Laws applicable to management corporations.--Except as
     otherwise provided in this chapter, this subpart shall be
     generally applicable to all management corporations. The
     specific provisions of this chapter shall control over the
     general provisions of this subpart. Except as otherwise provided
     in this article, a management 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 bylaws.--The
     bylaws of a management corporation may provide either expressly
     or by necessary implication that any one or more of the
     provisions of this chapter, except this subchapter, shall not be
     applicable, in whole or in part, to the corporation.