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Articles of incorporation - 15 Pa. Cons. Stat. § 1306Legal Research Home > Pennsylvania Statutes
§ 1306. Articles of incorporation.
(a) General rule.--Articles of incorporation shall be signed
by each of the incorporators and shall set forth in the English
language:
(1) The name of the corporation, unless the name is in a
foreign language in which case it shall be set forth in Roman
letters or characters or Arabic or Roman numerals.
(2) Subject to section 109 (relating to name of
commercial registered office provider in lieu of registered
address), the address, including street and number, if any,
of its initial registered office in this Commonwealth.
(3) A statement that the corporation is incorporated
under the provisions of the Business Corporation Law of 1988.
(4) A statement that the corporation is to be organized
upon a nonstock basis, or if it is to be organized on a stock
share basis:
(i) The aggregate number of shares that the
corporation shall have authority to issue. It shall not
be necessary to set forth in the articles the
designations of the classes of shares of the corporation,
or the maximum number of shares of each class that may be
issued.
(ii) A statement of the voting rights, designations,
preferences, limitations and special rights in respect of
the shares of any class or any series of any class, to
the extent that they have been determined.
(iii) A statement of any authority vested in the
board of directors to divide the authorized and unissued
shares into classes or series, or both, and to determine
for any such class or series its voting rights,
designations, preferences, limitations and special
rights.
(5) The name and address, including street and number,
if any, of each of the incorporators.
(6) The term for which the corporation is to exist, if
not perpetual.
(7) If the articles are to be effective on a specified
date, the hour, if any, and the month, day and year of the
effective date.
(8) Any other provisions that the incorporators may
choose to insert if:
(i) any provision of this subpart authorizes or
requires provisions pertaining to the subject matter
thereof to be set forth in the articles or bylaws of a
business corporation or in an agreement or other
instrument; or
(ii) the provisions, whether or not specifically
authorized by this subpart, relate to the purpose or
purposes of the corporation, the management of its
business or affairs or the rights, powers or duties of
its securityholders, directors or officers.
(b) Other provisions authorized.--A provision of the
original articles or a provision of the articles approved by the
shareholders, in either case adopted under subsection
(a)(8)(ii), may relax or be inconsistent with and supersede any
provision of Chapter 13 (relating to incorporation), 15
(relating to corporate powers, duties and safeguards), 17
(relating to officers, directors and shareholders) or 19
(relating to fundamental changes) concerning the subjects
specified in subsection (a)(8)(ii), except where a provision of
those chapters expressly provides that the articles shall not
relax or be inconsistent with any provision on a specified
subject. Notwithstanding the foregoing, the articles may provide
greater rights for shareholders than are authorized by any
provision of those chapters that otherwise provides that the
articles shall not relax or be inconsistent with any provision
on a specified subject.
(c) Par value.--The articles may, but need not, set forth a
par value for any authorized shares or class or series of
shares.
(d) Written consent to naming directors.--The naming of
directors in articles of incorporation shall constitute an
affirmation that the directors have consented in writing to
serve as such.
(Dec. 19, 1990, P.L.834, No.198, eff. imd.; Dec. 18, 1992,
P.L.1333, No.169, eff. 60 days)
1992 Amendment. Act 169 amended subsec. (b).
1990 Amendment. Act 198 amended subsec. (a)(8), relettered
subsec. (b) to subsec. (d) and added new subsecs. (b) and (c).
Cross References. Section 1306 is referred to in sections
1504, 1718 of this title.
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Last modified: November 27, 2007 |