§ 1911. Amendment of articles authorized.

531 words·~2 min read·/pa/title-15/chapter-19/1911

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(a)General rule.-- A business corporation, in the manner provided in this subchapter, may from time to time amend its articles for one or more of the following purposes:

(1)To adopt a new name, subject to the restrictions provided in this title.

(2)To modify any provision of the articles relating to its term of existence.

(3)To change, add to or diminish its purposes or to set forth different or additional purposes.

(4)To cancel or otherwise affect the right of holders of the shares of any class or series to receive dividends that have accrued but have not been declared or to otherwise effect a reclassification of or otherwise affect the substantial rights of the holders of any shares, including, without limitation, by providing special treatment of shares held by any shareholder or group of shareholders consistent with section 1906 (relating to special treatment of holders of shares of same class or series).

(5)To restate the articles in their entirety.

(6)In any and as many other respects as desired.

(b)Exceptions.-- An amendment adopted under this section shall not amend articles in such a way that as so amended they would not be authorized by this subpart as original articles of incorporation except that:

(1)Restated articles shall, subject to section 109 (relating to name of commercial registered office provider in lieu of registered address), state the address of the current instead of the initial registered office of the corporation in this Commonwealth and need not state the names and addresses of the incorporators.

(2)The corporation shall not be required to revise any other provision of its articles if the provision is valid and operative immediately prior to the delivery of the amendment to the Department of State for filing.

(c)Amendments pursuant to other provisions.-- Amendments to the articles authorized pursuant to Chapter 2 (relating to entities generally) or 3 (relating to entity transactions) or set forth in statements or certificates permitted or required to be delivered to the department for filing by section 108 (relating to change in location or status of registered office provided by agent) or 138 (relating to statement of correction) or by this subpart need not be proposed or adopted in the manner provided in this subchapter, except to the extent that the provisions of this subchapter have been incorporated into Chapter 2 or 3 or into the provisions authorizing such statements or certificates.

(d)Cross references.-- See sections 224(f) (relating to action on ratification), 321 (relating to approval by business corporation), 1103 (relating to definitions), 1507 (relating to registered office) and 1522(c) (relating to issuance of shares in classes or series; board action).

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(Dec. 19, 1990, P.L.834, No.198, eff. imd.; July 9, 2013, P.L.476, No.67, eff. 60 days; Nov. 3, 2022, P.L.1791, No.122, eff. 60 days)

2022 Amendment. Act 122 amended subsecs. (a)(1) and (b)(2), amended and relettered former subsec.

(c)to subsec.

(d)and added present subsec. (c).

2013 Amendment. Act 67 amended subsec. (a)(4).

1990 Amendment. Act 198 amended subsec.

(a)and added subsec. (c).

Cross References. Section 1911 is referred to in section 2305 of this title.

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