15 Pa. C.S. § 3301

Current through P.A. Acts 2023-66

Section 3301 - Application and effect of chapter

(a) General rule.--This chapter shall apply to all benefit corporations.

(b) Application of business corporation law generally.--The existence of a provision of this chapter shall not of itself create any implication that a contrary or different rule of law is or would be applicable to a business corporation that is not a benefit corporation. This chapter shall not affect any statute or rule of law that is or would be applicable to a business corporation that is not a benefit corporation.

(c) Laws applicable to benefit corporations.--Except as otherwise provided in this chapter, Part I (relating to preliminary provisions) and this subpart shall apply generally to benefit corporations. The provisions of this chapter shall control over inconsistent provisions of this title. A benefit corporation may be simultaneously subject to this chapter and one or more other chapters of this article.

(d) Organic rules may not be inconsistent.--A provision of the articles or bylaws of a benefit corporation may not relax, be inconsistent with or supersede any provision of this chapter.

15 Pa.C.S. § 3301

Amended by P.L. TBD 2016 No. 170, § 6.1, eff. 2/19/2017.

Amended by P.L. 2639 2014 No. 172, § 24, eff. 7/1/2015.

Added by P.L. 1228 2012 No. 152, § 1, eff. 1/22/2013.