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Corporations - 15 Pa. Cons. Stat. § 7703

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     § 7703.  Corporations.
        (a)  Members and purpose.--Corporations, productive and
     distributive, may be incorporated under this chapter, upon
     compliance with its requirements, by five or more farmers,
     mechanics, laborers or other persons who have incorporated
     themselves together by written articles under section 7704
     (relating to articles of incorporation) for the purpose of
     carrying on agricultural, horticultural, mining, quarrying,
     building, mechanical, manufacturing or commercial business; for
     the purpose of manufacturing, cultivating, raising, trading or
     dealing in goods, wares, merchandise, chattels, grains,
     vegetables, roots, fruits and other produce or animals; or for
     the purpose of buying, selling, holding, leasing or improving
     lands, tenements or buildings.
        (b)  Name.--
            (1)  The corporation may adopt any corporate name to
        indicate its cooperative character as long as the name has
        not been previously adopted.
            (2)  The two last words of the name shall be "cooperative
        corporation," but it shall be unlawful to use in the name
        either the words "society" or "company." A violation of this
        paragraph by a corporation formed under this chapter renders
        each member personally liable for all debts of the
        corporation.
        (c)  Business office.--A corporation must have a regular
     business office.
     (Dec. 19, 1990, P.L.834, No.198, eff. imd.)

        1990 Amendment.  Act 198 renumbered section 7702 to section
     7703 and renumbered former section 7703 to section 7704 and
     amended subsec. (a), retroactive to June 19, 1989.

Last modified: November 27, 2007