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2017 Pennsylvania Consolidated Statutes
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 23 - Statutory Close Corporations
Section 2305 - Election of an existing business corporation to become a statutory close corporation
Universal Citation: 15 PA Cons Stat § 2305 (2017)
§ 2305. Election of an existing business corporation to become a statutory close corporation.
(a) General rule.--A business corporation may become a statutory close corporation under this chapter by amending its articles so that they shall contain, in addition to the requirements of section 1911(b) (relating to exceptions):
(1) A heading stating the name of the corporation and that it is a statutory close corporation.
(2) A statement that it elects to become a statutory close corporation.
(3) The provision required by section 2304(a) (relating to additional contents of articles of statutory close corporations).
(b) Procedure.--The amendment shall not be effective unless it is adopted by the affirmative vote of all shareholders of the corporation whether or not otherwise entitled to vote thereon.
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