Home/Pennsylvania/Statutes/Title 15: CORPORATIONS AND UNINCORPORATED ASSOCIATIONS/Part: PART II/Ch. 57: OFFICERS, DIRECTORS AND MEMBERS/Subch.: FIDUCIARY DUTY/§ 5719
Pennsylvania Statutes

§ 5719 — Renunciation of corporate opportunities

Pennsylvania·Title 15 CORPORATIONS AND UNINCORPORATED ASSOCIATIONS·Part PART II·Ch. 57 OFFICERS, DIRECTORS AND MEMBERS·Subch. FIDUCIARY DUTY
The articles of incorporation or bylaws, or an action of the board of directors, may renounce any interest or expectancy of a nonprofit corporation in, or in being offered an opportunity to participate in, a specified corporate opportunity or specified classes or categories of corporate opportunities that are presented to the corporation or to one or more of its directors, officers or members.

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Legislative History

(Nov. 3, 2022, P.L.1791, No.122, eff. 60 days) 2022 Amendment.Act 122 added section 5719.

Nearby Sections

15
§ 5701
Applicability of subchapter
§ 5702
Manner of giving notice
§ 5703
Place and notice of meetings of board of directors or other body
§ 5704
Place and notice of meetings of members
§ 5705
Waiver of notice
§ 5706
Modification of proposal contained in notice
§ 5707
Exception to requirement of notice
§ 5708
Use of conference telephone or other electronic technology
§ 5709
Conduct of members meeting
§ 5711
Alternative provisions
§ 5712
Standard of care, justifiable reliance and business judgment rule
§ 5713
Personal liability of directors
§ 5714
Presumption of assent
§ 5715
Exercise of powers generally
§ 5716
Alternative standard
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