Pennsylvania § 1523 Pricing and issuance of shares

Pennsylvania Statutes

§ 1523 — Pricing and issuance of shares

Pennsylvania·Title 15 CORPORATIONS AND UNINCORPORATED ASSOCIATIONS·Part PART II·Ch. 15 CORPORATE POWERS, DUTIES AND SAFEGUARDS·Subch. SHARES AND OTHER SECURITIES

Except as otherwise restricted in the bylaws, shares of a business corporation may be issued at a price determined by the board of directors; or the board may authorize one or more directors or one or more officers, acting alone or with the participation of one or more directors, to determine, within limits, pursuant to a formula or method or subject to relevant criteria specifically prescribed by the board:

(1)the persons that shares will be issued to; and

(2)the number of shares, price or consideration and other terms on which shares will be issued.

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Except as otherwise restricted in the bylaws, shares of a business corporation may be issued at a price determined by the board of directors; or the board may authorize one or more directors or one or more officers, acting alone or with the participation of one or more directors, to determine, within limits, pursuant to a formula or method or subject to relevant criteria specifically prescribed by the board:

(1) the persons that shares will be issued to; and

(2) the number of shares, price or consideration and other terms on which shares will be issued.

Pennsylvania § 1523 (Pricing and issuance of shares) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.