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Subordination of title to regulatory laws - 15 Pa. Cons. Stat. § 103

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     § 103.  Subordination of title to regulatory laws.
        (a)  Regulatory laws unaffected.--This title is not intended
     to authorize any corporation or other association to do any act
     prohibited by any statute regulating the business of the
     association or by any rule or regulation validly promulgated
     thereunder by any department, board or commission of this
     Commonwealth. Except as otherwise provided by the statutes and
     prescribed by the rules and regulations promulgated thereunder
     applicable to the business of the association, the issuance by
     the Department of State of any certificate evidencing the
     incorporation of a corporation or the filing of an instrument
     with respect to or the organization or qualification of an
     association under this title or any amendment to its articles or
     certificate or other change in its status or other action under
     this title shall not be effective to exempt the association from
     any of the requirements of those statutes or rules and
     regulations.
        (b)  Compliance with regulatory laws condition precedent to
     effectiveness of corporate or other action.--Any document filed
     in the Department of State or any bylaw adopted or other
     corporate or other action taken under the authority of this
     title or other action pursuant thereto in violation of any
     statutes or rules or regulations regulating the business of the
     association shall be ineffective as against the Commonwealth,
     including the departments, boards and commissions thereof,
     unless and until the violation is cured.
        (c)  Structural provisions in regulatory statutes
     controlling.--If and to the extent that a statute regulating the
     business of a corporation or other association sets forth
     provisions relating to the government and regulation of the
     affairs of associations that are inconsistent with the
     provisions of this title on the same subject, the provisions of
     the other statute shall control.
     (Dec. 18, 1992, P.L.1333, No.169, eff. 60 days)

        1992 Amendment.  Act 169 amended subsec. (a).
        Cross References.  Section 103 is referred to in sections
     1104, 1501, 1524, 1903, 2105, 5104, 5501, 5903, 8102, 8204, 8921
     of this title.

Last modified: November 27, 2007