{"data":{"id":"us-pa/15-pa.c.s.-351","jurisdiction":"us-pa","citation":"15 Pa.C.S. § 351","heading":"Conversion authorized.","body":"(a) Domestic converting associations.--Except as provided in section 318 (relating to excluded entities and transactions) or this section, by complying with this chapter:\n(1) A domestic entity may become a domestic entity of a different type or a domestic banking institution.\n(2) A domestic banking institution may become a domestic association of a different type.\n(3) A domestic entity may become a foreign association of a different type, if the conversion is authorized by the laws of the foreign jurisdiction.\n(b) Foreign converting associations.--By complying with the applicable provisions of this subchapter, a foreign association may become a domestic entity of a different type if the conversion is authorized by the laws of the jurisdiction of formation of the foreign association.\n(c) Protected governance agreements.--If a protected governance agreement that is binding on a domestic entity immediately before the effectiveness of a transaction under this chapter contains a provision that applies to a merger of the entity but does not refer to a conversion, the provision shall apply to a conversion of the entity as if the conversion were a merger until the provision is amended after July 1, 2015.\n(d) Exceptions.--This subchapter may not be used to accomplish a transaction that has the same effect as a transaction under any of the following provisions:\n(1) Section 7104 (relating to election of an existing business corporation to become a cooperative corporation).\n(2) Section 7105 (relating to termination of status as a cooperative corporation for profit).\n(3) Section 7106 (relating to election of an existing nonprofit corporation to become a cooperative corporation).\n(4) Section 7107 (relating to termination of nonprofit cooperative corporation status).\n(e) Cross reference.--See section 314 (relating to regulatory conditions and required notices and approvals).","path":["Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS","PART I PRELIMINARY PROVISIONS","CHAPTER 3 ENTITY TRANSACTIONS","SUBCHAPTER E CONVERSION"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=15\u0026div=0\u0026chpt=3\u0026sctn=51\u0026subsctn=0","current_through":"2026-07-28 (Statute Update stamp, 15 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:31:13Z","sha256":"c5f16c99e7d3ea6f7ccca635243a0abd602b70ee6b174ecbf86f43b29b91560d","source_id":"us-pa","stale":false,"prev":"us-pa/15-pa.c.s.-346","next":"us-pa/15-pa.c.s.-352"},"notice":"GroundRules: Original legal text. Not legal advice."}