§ 5711. Alternative provisions.
Section 5716 (relating to alternative standard) shall not be applicable to any nonprofit corporation to which section 5715 (relating to exercise of powers generally) is applicable. Section 5715 shall be applicable to any corporation except a corporation:
(1) the bylaws of which by amendment adopted by the board of directors on or before July 26, 1990, and not subsequently rescinded by an articles amendment, explicitly provide that section 5715 or corresponding provisions of prior law shall not be applicable to the corporation; or
(2) the articles of which explicitly provide that section 5715 or corresponding provisions of prior law shall not be applicable to the corporation.
Cross References. Section 5711 is referred to in sections 5715, 5716 of this title.
Section: Previous 5703 5704 5705 5706 5707 5708 5709 5711 5712 5713 5714 5715 5716 5717 5721 NextLast modified: October 8, 2016