15 Pennsylvania Consolidated Statutes Chapter 55 - Corporate Powers, Duties And Safeguards
Subchapter A. General Provisions
- Section 5501 - Corporate Capacity
Except as provided in section 103 (relating to subordination of title to regulatory laws), a nonprofit corporation shall have the legal capacity of natural...
- Section 5502 - General Powers
(a) General rule.--Subject to the limitations and restrictions imposed by statute and, except as otherwise provided in paragraph (4), subject to the limitations and...
- Section 5503 - Defense Of Ultra Vires
(a) General rule.--A limitation upon the business, purposes or powers of a nonprofit corporation, expressed or implied in its articles or bylaws or implied...
- Section 5504 - Adoption, Amendment And Contents Of Bylaws
(a) General rule.--The members entitled to vote shall have the power to adopt, amend and repeal the bylaws of a nonprofit corporation. Except as...
- Section 5505 - Persons Bound By Bylaws
Except as otherwise provided by section 5713 (relating to personal liability of directors) or any similar provision of law, bylaws of a nonprofit corporation...
- Section 5506 - Form Of Execution Of Instruments
(a) General rule.--Any form of execution provided in the articles or bylaws to the contrary notwithstanding, any note, mortgage, evidence of indebtedness, contract or...
- Section 5507 - Registered Office
(a) General rule.--Every nonprofit corporation shall have and continuously maintain in this Commonwealth a registered office which may, but need not, be the same...
- Section 5508 - Corporate Records; Inspection By Members
(a) Required records.--Every nonprofit corporation shall keep minutes of the proceedings of the members, the directors and any other body, and a membership register,...
- Section 5509 - Bylaws And Other Powers In Emergency
(a) General rule.--Except as otherwise restricted in the bylaws, the board of directors or other body of any nonprofit corporation may adopt emergency bylaws,...
- Section 5510 - Certain Specifically Authorized Debt Terms
(a) Interest rates.--A nonprofit corporation shall not plead or set up usury, or the taking of more than the lawful rate of interest, or...
- Section 5511 - Establishment Of Subordinate Units
A nonprofit corporation may establish and terminate local branches, chapters, councils, clubs, churches, lodges, parishes or other subordinate units regardless of their designation, form...
- Section 5512 - Informational Rights Of A Director
(a) General rule.--To the extent reasonably related to the performance of the duties of the director, including those arising from service as a member...
Subchapter B. Financial Matters
- Section 5541 - Capital Contributions Of Members
(a) General rule.--A nonprofit corporation organized on a nonstock basis may provide in its bylaws that members, upon or subsequent to admission, shall make...
- Section 5542 - Subventions
(a) General rule.--The bylaws of a nonprofit corporation may provide that the corporation shall be authorized by resolution of the board of directors or...
- Section 5543 - Debt And Security Interests
(a) General rule.--Unless otherwise provided in the bylaws, a nonprofit corporation may issue its bonds or other obligations for an amount and form of...
- Section 5543.1 - Usury Not A Defense (Repealed)
§ 5543.1. Usury not a defense (Repealed). 2001 Repeal. Section 5543.1 was repealed June 22, 2001, P.L.418, No.34, effective in 60 days.
- Section 5544 - Dues And Assessments
(a) General rule.--A nonprofit corporation may levy dues or assessments, or both, on its members, if authority to do so is conferred by the...
- Section 5545 - Income From Corporate Activities
A nonprofit corporation whose lawful activities involve among other things the charging of fees or prices for its services or products, shall have the...
- Section 5546 - Purchase, Sale, Mortgage And Lease Of Real Property
Except as otherwise provided in this subpart and unless otherwise provided in the bylaws, no application to or confirmation of any court shall be...
- Section 5546.1 - Insolvency Or Bankruptcy (Repealed)
§ 5546.1. Insolvency or bankruptcy (Repealed). 2001 Repeal. Section 5546.1 was repealed June 22, 2001, P.L.418, No.34, effective in 60 days.
- Section 5547 - Authority To Take And Hold Trust Property
(a) General rule.--Every nonprofit corporation incorporated for a charitable purpose or purposes may take, receive and hold such real and personal property as may...
- Section 5548 - Investment Of Trust Funds
(a) General rule.--Unless otherwise specifically directed in the trust instrument, the board of directors or other body of a nonprofit corporation incorporated for charitable...
- Section 5549 - Transfer Of Trust Or Other Assets To Institutional Trustee
(a) General rule.--Any nonprofit corporation holding or receiving assets under section 5547 (relating to authority to take and hold trust property) may, by appropriate...
- Section 5550 - Devises, Bequests And Gifts After Certain Fundamental Changes
A devise, bequest or gift to be effective in the future, in trust or otherwise, to or for a nonprofit corporation which has: (1)...
- Section 5551 - Dividends Prohibited; Compensation And Certain Payments Authorized
(a) General rule.--A nonprofit corporation shall not pay dividends or distribute any part of its income or profits to its members, directors, or officers....
- Section 5552 - (Reserved)
(July 9, 2013, P.L.476, No.67, eff. 60 days) 2013 Amendment. Act 67 renumbered former section 5552 to section 5553 and added section 5552 (Reserved).
- Section 5553 - Liabilities Of Members
(a) General rule.--A member of a nonprofit corporation shall not be liable, solely by reason of being a member, under an order of a...
- Section 5554 - Annual Report Of Directors Or Other Body
(a) Contents.--The board of directors or other body of a nonprofit corporation shall present annually to the members a report, verified by the president...
Subchapter C. Common Trust Funds
Last modified: October 8, 2016