Pennsylvania § 2307 Voluntary termination of statutory close corporation status by amendment of articles

Pennsylvania Statutes

§ 2307 — Voluntary termination of statutory close corporation status by amendment of articles

Pennsylvania·Title 15 CORPORATIONS AND UNINCORPORATED ASSOCIATIONS·Part PART II·Ch. 23 STATUTORY CLOSE CORPORATIONS·Subch. PRELIMINARY PROVISIONS

(a)General rule.--A statutory close corporation may voluntarily terminate its status as such and cease to be subject to this chapter by amending its articles to delete therefrom the additional provision required by section 2303(1) (relating to formation of statutory close corporations) to be stated in the articles of a statutory close corporation.

(b)Procedure.--The amendment shall not be effective unless it is adopted by at least the minimum vote.

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(a) General rule.--A statutory close corporation may voluntarily terminate its status as such and cease to be subject to this chapter by amending its articles to delete therefrom the additional provision required by section 2303(1) (relating to formation of statutory close corporations) to be stated in the articles of a statutory close corporation.

(b) Procedure.--The amendment shall not be effective unless it is adopted by at least the minimum vote.

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