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Statement of termination - 15 Pa. Cons. Stat. § 5902Legal Research Home > Pennsylvania Statutes
§ 5902. Statement of termination.
(a) General rule.--If articles of amendment or articles of
merger, consolidation, division or conversion of a nonprofit
corporation or to which it is a party have been filed in the
Department of State prior to the termination of the amendment or
plan pursuant to provisions therefor set forth in the resolution
or petition relating to the amendment or in the plan, the
termination shall not be effective unless the corporation shall,
prior to the time the amendment or plan is to become effective,
file in the department a statement of termination. The statement
of termination shall be executed by the corporation that filed
the amendment or by each corporation that is a party to the
plan, unless the plan permits termination by less than all of
the corporations, in which case the statement shall be executed
on behalf of the corporation or corporations exercising the
right to terminate, and shall set forth:
(1) A copy of the articles of amendment or articles of
merger, consolidation, division or conversion relating to the
amendment or plan that is terminated.
(2) A statement that the amendment or plan has been
terminated in accordance with the provisions therefor set
forth therein.
(b) Cross references.--See sections 134 (relating to
docketing statement) and 138 (relating to statement of
correction).
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Last modified: November 27, 2007 |
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