15 Pennsylvania Consolidated Statutes Chapter 21 - Nonstock Corporations

• Chapter Notes

Subchapter A.  Preliminary Provisions

• Section 2101 - Application And Effect Of Chapter
  (a) General rule.--This chapter shall be applicable to: (1) A business corporation that elects to become a nonstock corporation in the manner provided by...
• Section 2102 - Formation Of Nonstock Corporations
  (a) General rule.--A nonstock corporation shall be formed in accordance with Article B (relating to domestic business corporations generally) except that its articles shall...
• Section 2103 - Contents Of Articles And Other Documents Of Nonstock Corporations
  In lieu of required statements relating to shares or share structure, a nonstock corporation shall set forth in any document permitted or required to...
• Section 2104 - Election Of An Existing Business Corporation To Become A Nonstock Corporation
  (a) General rule.--Any business corporation may become a nonstock corporation under this chapter by: (1) Adopting a plan of conversion providing for the redemption...
• Section 2105 - Termination Of Nonstock Corporation Status
  (a) General rule.--A nonstock corporation may terminate its status as such and cease to be subject to this chapter by: (1) Adopting a plan...

Subchapter B.  Powers, Duties and Safeguards

• Section 2121 - Corporate Name Of Nonstock Corporations
  (a) General rule.--The corporate name of a nonstock corporation may contain the word "mutual." (b) Insurance names.--See section 202(c)(1)(iii) (relating to requirements for names...
• Section 2122 - Classes Of Membership
  The bylaws of a nonstock corporation adopted by the members may vest in the board of directors the power to establish classes of membership...
• Section 2123 - Evidence Of Membership; Liability Of Members
  (a) General rule.--Every member of record of a nonstock corporation shall be entitled to a written document evidencing his membership in the corporation. The...
• Section 2124 - Voting Rights Of Members
  Except as otherwise provided in a bylaw adopted by the members or in a written document evidencing membership, every member of record of a...
• Section 2125 - Inapplicability Of Certain Provisions To Nonstock Corporations
  (a) Share structure.--The provisions of Subchapter B of Chapter 15 (relating to shares and other securities) shall not be applicable to a nonstock corporation....
• Section 2126 - Dissolution Of Nonstock Corporations
  If at the time of dissolution of a nonstock corporation the articles, bylaws and documents evidencing membership fail to define the respective rights and...

Last modified: October 8, 2016