The articles of incorporation, or an action of the board of directors, may renounce any interest or expectancy of a banking institution in, or in being offered an opportunity to participate in, a specified business opportunity or specified classes or categories of business opportunities that are presented to the corporation or to one or more of its directors, officers, shareholders or members.
15 Pa.C.S. § 524
Renunciation of business opportunities
Known as the Associations Code
The act spans §§ 15-101–15-9507 (683 sections).
(Nov. 3, 2022, P.L.1791, No.122, eff. 60 days)
Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.