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Exception to requirement of notice - 15 Pa. Cons. Stat. § 1707Legal Research Home > Pennsylvania Statutes
§ 1707. Exception to requirement of notice.
(a) General rule.--Whenever any notice or communication is
required to be given to any person under the provisions of this
subpart or by the articles or bylaws of any business corporation
or by the terms of any agreement or other instrument or as a
condition precedent to taking any corporate action and
communication with that person is then unlawful, the giving of
the notice or communication to that person shall not be
required, and there shall not be any duty to apply for a license
or other permission to do so. Any action or meeting that is
taken or held without notice or communication to that person
shall have the same validity as if the notice or communication
had been duly given. If the action taken is such as to require
the filing of any document with respect thereto under any
provision of law or any agreement or other instrument, it shall
be sufficient, if such is the fact and if notice or
communication is required, to state therein that notice or
communication was given to all persons entitled to receive
notice or communication except persons with whom communication
was unlawful. See section 1701 (relating to applicability of
subchapter).
(b) Shareholders without forwarding addresses.--Subsection
(a) shall also be applicable to any shareholder with whom the
corporation has been unable to communicate for more than 24
consecutive months because communications to the shareholder are
returned unclaimed or the shareholder has otherwise failed to
provide the corporation with a current address. Whenever the
shareholder provides the corporation with a current address,
subsection (a) shall cease to be applicable to the shareholder
under this subsection.
Cross References. Section 1707 is referred to in section
1701 of this title.
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Last modified: November 27, 2007 |
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