§ 345. Statement of interest exchange; effectiveness.

528 words·~2 min read·/pa/title-15/chapter-3/345

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

(a)General rule.-- If the acquired association is a domestic entity, a statement of interest exchange shall be signed by that entity and delivered to the department for filing.

(b)Contents.-- A statement of interest exchange shall contain all of the following:

(1)With respect to the acquired association:

(i)its name;

(ii)its jurisdiction of formation;

(iii)its type;

(iv)if it is a domestic filing association or domestic limited liability partnership, the address of its registered office, including street and number, if any, in this Commonwealth, subject to section 109 (relating to name of commercial registered office provider in lieu of registered address); and

(v)if it is a domestic association that is not a domestic filing association or limited liability partnership, the address, including street and number, if any, of its principal office.

(2)With respect to the acquiring association:

(i)its name;

(ii)its jurisdiction of formation;

(iii)its type;

(iv)if it is a domestic filing association, domestic limited liability partnership or registered foreign association, the address of its registered office, including street and number, if any, in this Commonwealth, subject to section 109;

(v)if it is a domestic association that is not a domestic filing association or limited liability partnership, the address, including street and number, if any, of its principal office; and

(vi)if it is a nonregistered foreign association, the address, including street and number, if any, of:

(A)its registered or similar office, if any, required to be maintained by the laws of its jurisdiction of formation; or

(B)if it is not required to maintain a registered or similar office, its principal office.

(3)If the statement of interest exchange is not to be effective on filing, the later date or date and time on which it will become effective.

(4)A statement that the plan of interest exchange was approved by the acquired association in accordance with this chapter.

(5)Any amendments to the public organic record of the acquired association approved as part of the plan of interest exchange.

(c)Other provisions.-- In addition to the requirements of subsection (b), a statement of interest exchange may contain any other provision not prohibited by law.

(d)Filing of plan.-- A plan of interest exchange that is signed by the domestic entity that is the acquired association and that meets all of the requirements of subsection

(b)may be delivered to the department for filing instead of a statement of interest exchange and on filing shall have the same effect. If a plan of interest exchange is delivered to the department for filing as provided in this subsection, references in this chapter to a statement of interest exchange shall refer to the plan of interest exchange filed under this subsection.

(e)Effectiveness.-- An interest exchange in which the acquired association is a domestic entity is effective when the statement of interest exchange is effective as provided in section 136(c) (relating to processing of documents by Department of State).

(f)Cross references.-- See sections 134 (relating to docketing statement) and 135 (relating to requirements to be met by filed documents).

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