§ 3301. Application and effect of chapter.

214 words·~1 min read·/pa/title-15/chapter-33/3301

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

(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.

15c3301v

(Oct. 22, 2014, P.L.2640, No.172, eff. July 1, 2015; Nov. 21, 2016, P.L.1328, No.170, eff. 90 days)

2016 Amendment. Act 170 amended subsec. (d).

2014 Amendment. Act 172 amended subsec. (c).

15c3302s