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2019 Pennsylvania Consolidated Statutes
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 25 - Registered Corporations
Section 2585 - Application and effect of subchapter
Universal Citation: 15 PA Cons Stat § 2585 (2019)
§ 2585. Application and effect of subchapter.
(a) General rule.--Except as otherwise provided in this section, this subchapter shall apply to every business combination transaction relating to a business operation if such business operation was owned by a registered corporation (or any subsidiary thereof) at the time of a control-share approval with respect to the corporation (regardless of the fact, if such be the case, that such operation after the control-share approval is owned by the registered corporation or any other person).
(b) Exceptions.--This subchapter shall not apply to:
(1) Any business combination transaction occurring more than five years after the control-share approval of the registered corporation.
(2) Any business operation located other than in this Commonwealth.
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