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Restriction on equitable relief - 15 Pa. Cons. Stat. § 1105Legal Research Home > Pennsylvania Statutes
§ 1105. Restriction on equitable relief.
A shareholder of a business corporation shall not have any
right to obtain, in the absence of fraud or fundamental
unfairness, an injunction against any proposed plan or amendment
of articles authorized under any provision of this subpart, nor
any right to claim the right to valuation and payment of the
fair value of his shares because of the plan or amendment,
except that he may dissent and claim such payment if and to the
extent provided in Subchapter D of Chapter 15 (relating to
dissenters rights) where this subpart expressly provides that
dissenting shareholders shall have the rights and remedies
provided in that subchapter. Absent fraud or fundamental
unfairness, the rights and remedies so provided shall be
exclusive. Structuring a plan or transaction for the purpose or
with the effect of eliminating or avoiding the application of
dissenters rights is not fraud or fundamental unfairness within
the meaning of this section.
Cross References. Section 1105 is referred to in sections
1571, 1904, 1906 of this title.
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Last modified: November 27, 2007 |