15 Pa. C.S. § 2521

Current through P.A. Acts 2023-66
Section 2521 - Call of special meetings of shareholders
(a) General rule.-- Except as provided in subsections (b) and (c), the shareholders of a registered corporation described in subsection 2502(1) (relating to registered corporation status) do not have the right to call a special meeting of the shareholders.
(b) Exception.-- An interested shareholder (as defined in section 2553 (relating to interested shareholder)) may call a special meeting of shareholders for the purpose of approving a business combination under section 2555(3) or (4) (relating to requirements relating to certain business combinations).
(c) Contrary articles provision.--A provision of the articles of a registered corporation described in section 2502(1) that gives shareholders the right to call a special meeting of the shareholders and:
(1) is adopted after July 1, 2015, may provide that a special meeting may be called only by shareholders entitled to cast 25% or more of the votes that all shareholders would be entitled to cast at the meeting; or
(2) was adopted on or before July 1, 2015, is enforceable in accordance with its terms.

15 Pa.C.S. § 2521

Amended by P.L. TBD 2022 No. 122, § 60, eff. 1/2/2023.
Amended by P.L. 2639 2014 No. 172, § 24, eff. 7/1/2015.
1988, Dec. 21, P.L. 1444, No. 177, § 103, effective Oct. 1, 1989.