§ 2568. Board determinations.

144 words·~1 min read·/pa/title-15/chapter-25/2568

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

All determinations made by the board of directors of the registered corporation under this subchapter shall be presumed to be correct unless shown by clear and convincing evidence that the determination was not made by the directors in good faith after reasonable investigation or was clearly erroneous.

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(Dec. 19, 1990, P.L.834, No.198, eff. imd.)

1990 Amendment. Act 198 renumbered section 2567 to section 2568.

15c2571h

SUBCHAPTER H

DISGORGEMENT BY CERTAIN CONTROLLING

SHAREHOLDERS FOLLOWING ATTEMPTS TO

ACQUIRE CONTROL

Sec.

2571. Application and effect of subchapter.

2572. Policy and purpose.

2573. Definitions.

2574. Controlling person or group safe harbor.

2575. Ownership by corporation of profits resulting from certain transactions.

2576. Enforcement actions.

Enactment. Subchapter H was added April 27, 1990, P.L.129, No.36, effective immediately.

Cross References. Subchapter H is referred to in sections 313, 1715, 1781, 1903 of this title.

15c2571s