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15 Pa.C.S. § 2548

Coordination with control transaction

Known as the Associations Code

The act spans §§ 15-101 to 15-9507 (683 sections).

(a) General rule.--A person or group that proposes to engage in a control transaction may comply with the requirements of this subchapter in connection with the control transaction, and the effectiveness of the rights afforded in this subchapter to shareholders may be conditioned upon the consummation of the control transaction.

(b) Notice.--The person or group shall give prompt written notice of the satisfaction of any such condition to each shareholder who has made demand as provided in this subchapter.

Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.