Pennsylvania § 2305 Election of an existing business corporation to become a statutory close corporation

Pennsylvania Statutes

§ 2305 — Election of an existing business corporation to become a statutory close corporation

Pennsylvania § 2305

JurisdictionPennsylvania

Title 15CORPORATIONS AND UNINCORPORATED ASSOCIATIONS

PartPART II

Ch. 23STATUTORY CLOSE CORPORATIONS

Subch.PRELIMINARY PROVISIONS

This text of Pennsylvania § 2305 (Election of an existing business corporation to become a statutory close corporation) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

15 Pa. Cons. Stat. § 2305 (2026).

Text

(a)General rule.--A business corporation may become a statutory close corporation under this chapter by amending its articles so that they shall contain, in addition to the requirements of section 1911(b) (relating to exceptions):

(1)A heading stating the name of the corporation and that it is a statutory close corporation.

(2)A statement that it elects to become a statutory close corporation.

(3)The provision required by section 2304(a) (relating to additional contents of articles of statutory close corporations).

(b)Procedure.--The amendment shall not be effective unless it is adopted by the affirmative vote of all shareholders of the corporation whether or not otherwise entitled to vote thereon.

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(a) General rule.--A business corporation may become a statutory close corporation under this chapter by amending its articles so that they shall contain, in addition to the requirements of section 1911(b) (relating to exceptions):

(1) A heading stating the name of the corporation and that it is a statutory close corporation.

(2) A statement that it elects to become a statutory close corporation.

(3) The provision required by section 2304(a) (relating to additional contents of articles of statutory close corporations).

(b) Procedure.--The amendment shall not be effective unless it is adopted by the affirmative vote of all shareholders of the corporation whether or not otherwise entitled to vote thereon.