An association that approves a plan in its capacity as an interest holder or creditor of a domestic or foreign association that is a party to the transaction under the plan, or that furnishes all or a part of the consideration contemplated by a plan, does not thereby become a party to the plan or the transaction under the plan for purposes of this chapter.
15 Pa.C.S. § 319
Party to plan or transaction
Known as the Entity Transactions Law
The act spans §§ 15-311 to 15-384 (56 sections).
Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.