§ 1719. Renunciation of business opportunities.
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§ 1719. Renunciation of business opportunities.
The articles of incorporation, or an action of the board of directors, may renounce any interest or expectancy of a business corporation in, or in being offered an opportunity to participate in, a specified business opportunity or specified classes or categories of business opportunities that are presented to the corporation or to one or more of its directors, officers or shareholders.
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(Nov. 3, 2022, P.L.1791, No.122, eff. 60 days)
2022 Amendment. Act 122 added section 1719.
15c1721h
SUBCHAPTER C
DIRECTORS AND OFFICERS
Sec.
1721. Board of directors.
1722. Qualifications of directors.
1723. Number of directors.
1724. Term of office of directors.
1725. Selection of directors.
1726. Removal of directors.
1727. Quorum of and action by directors.
1728. Interested directors or officers; quorum.
1729. Voting rights of directors.
1730. Compensation of directors.
1731. Executive and other committees of the board.
1732. Officers.
1733. Removal of officers and agents.
1734. Officer's standard of care and justifiable reliance.
1735. Personal liability of officers.
Enactment. Subchapter C was added as Subchapter B December 21, 1988, P.L.1444, No.177, effective October 1, 1989, and was relettered to Subchapter C December 19, 1990, P.L.834, No.198, effective immediately.
Cross References. Subchapter C is referred to in section 3322 of this title.
15c1721s