Whenever the membership of a nonprofit corporation having a stated number of members is reduced below that number by death, withdrawal or otherwise, the corporation shall not on that account be dissolved, but it shall be lawful for the surviving or continuing members to continue the corporate existence unless otherwise restricted in the bylaws.
15 Pa.C.S. § 5768
Reduction of membership below stated number
Known as the Associations Code
The act spans §§ 15-101 to 15-9507 (683 sections).
(July 9, 2013, P.L.476, No.67, 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.