Pennsylvania § 2527 Authority of board of directors

Pennsylvania Statutes

§ 2527 — Authority of board of directors

Pennsylvania·Title 15 CORPORATIONS AND UNINCORPORATED ASSOCIATIONS·Part PART II·Ch. 25 REGISTERED CORPORATIONS·Subch. DIRECTORS AND SHAREHOLDERS

The authority, powers and functions of the board of directors of a registered corporation described in section 2502(1) (relating to registered corporation status) may not be varied, and a committee of the board of such a corporation may not be established, by a bylaw adopted by the shareholders unless the bylaw has been adopted:

(1)with the approval of the board of directors;

(2)on or before August 21, 2001; or

(3)at a time when the corporation was not a registered corporation described in section 2502(1).

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The authority, powers and functions of the board of directors of a registered corporation described in section 2502(1) (relating to registered corporation status) may not be varied, and a committee of the board of such a corporation may not be established, by a bylaw adopted by the shareholders unless the bylaw has been adopted:

(1) with the approval of the board of directors;

(2) on or before August 21, 2001; or

(3) at a time when the corporation was not a registered corporation described in section 2502(1).

Pennsylvania § 2527 (Authority of board of directors) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(June 22, 2001, P.L.418, No.34, eff. 60 days) 2001 Amendment.Act 34 added section 2527. Cross References.Section 2527 is referred to in section 1721 of this title.