15 Pennsylvania Consolidated Statutes § 2521 - Call Of Special Meetings Of Shareholders

§ 2521. Call of special meetings of shareholders.

(a) General rule.--The shareholders of a registered corporation shall not be entitled by statute to call a special meeting of the shareholders.

(b) Exception.--Subsection (a) shall not apply to the call of a special meeting by an interested shareholder (as defined in section 2553 (relating to interested shareholder)) for the purpose of approving a business combination under section 2555(3) or (4) (relating to requirements relating to certain business combinations).

(c) Contrary articles provision.--A provision of the articles of a registered corporation described in section 2502(1) (relating to registered corporation status) adopted after July 1, 2015, may not provide that a special meeting may be called by less than 25% of the votes that all shareholders would be entitled to cast at the meeting.

(Oct. 22, 2014, P.L.2640, No.172, eff. July 1, 2015)

Cross References. Section 2521 is referred to in sections 1755, 2501 of this title.

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Last modified: October 8, 2016