Pennsylvania § 2585 Application and effect of subchapter

Pennsylvania Statutes

§ 2585 — Application and effect of subchapter

Pennsylvania·Title 15 CORPORATIONS AND UNINCORPORATED ASSOCIATIONS·Part PART II·Ch. 25 REGISTERED CORPORATIONS·Subch. BUSINESS COMBINATION TRANSACTIONS - LABOR CONTRACTS

(a)General rule.--Except as otherwise provided in this section, this subchapter shall apply to every business combination transaction relating to a business operation if such business operation was owned by a registered corporation (or any subsidiary thereof) at the time of a control-share approval with respect to the corporation (regardless of the fact, if such be the case, that such operation after the control-share approval is owned by the registered corporation or any other person).

(b)Exceptions.--This subchapter shall not apply to:

(1)Any business combination transaction occurring more than five years after the control-share approval of the registered corporation.

(2)Any business operation located other than in this Commonwealth.

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(a) General rule.--Except as otherwise provided in this section, this subchapter shall apply to every business combination transaction relating to a business operation if such business operation was owned by a registered corporation (or any subsidiary thereof) at the time of a control-share approval with respect to the corporation (regardless of the fact, if such be the case, that such operation after the control-share approval is owned by the registered corporation or any other person).

(b) Exceptions.--This subchapter shall not apply to:

(1) Any business combination transaction occurring more than five years after the control-share approval of the registered corporation.

(2) Any business operation located other than in this Commonwealth.

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