§ 5770. Voting powers and other rights of certain securityholders and other entities.

196 words·~1 min read·/pa/title-15/chapter-57/5770

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

The power to vote in respect to the corporate affairs and management of a membership corporation and other membership rights as may be provided in a bylaw adopted by the members may be conferred upon:

(1)Registered holders of obligations issued or to be issued by the corporation.

(2)The United States of America, the Commonwealth, a state, or any political subdivision of any of the foregoing, or any entity prohibited by law from becoming a member of a corporation.

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(Dec. 21, 1988, P.L.1444, No.177, eff. Oct. 1, 1989; July 9, 2013, P.L.476, No.67, eff. 60 days)

2013 Amendment. Act 67 renumbered and amended former section 5767 to section 5770.

Cross References. Section 5770 is referred to in sections 5103, 5504 of this title.

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SUBCHAPTER F

DERIVATIVE ACTIONS

Sec.

5781. Derivative action.

5782. Eligible member plaintiffs and security for costs.

5783. Special litigation committee.

5784. Proceeds and expenses.

Subchapter Heading. The heading of Subchapter E (Reserved) was amended December 21, 1988, P.L.1444, No.177, effective October 1, 1989, and was relettered to Subchapter F December 19, 1990, P.L.834, No.198, effective immediately.

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