GroundRules
15 Pa.C.S. § 2125: Inapplicability of certain provisions to nonstock corporations.
Where this section sits in the code
- Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
- PART II CORPORATIONS
- SUBPART B BUSINESS CORPORATIONS
- ARTICLE C DOMESTIC BUSINESS CORPORATION ANCILLARIES
- CHAPTER 21 NONSTOCK CORPORATIONS
- SUBCHAPTER B POWERS, DUTIES AND SAFEGUARDS
(a) Share structure.--The provisions of Subchapter B of Chapter 15 (relating to shares and other securities) shall not be applicable to a nonstock corporation. A nonstock corporation shall not create or issue shares.
(b) Corporate finance.--A patronage rebate or dividend that is, or is equivalent to, a reduction in the charge made by a nonstock corporation to a member for goods or services shall not constitute a dividend or distribution within the meaning of section 1551 (relating to distributions to shareholders).
Collected 2026-09-02T16:31:13Z. Source file · JSON