(a) General rule.--Except as otherwise provided in the articles, a business corporation may issue shares, option rights or securities having conversion or option rights, or obligations without first offering them to shareholders of any class or classes.
(b) Cross references.--See sections 1525(e) (relating to shares subject to preemptive rights) and 2321(b) (relating to preemptive rights).
(Dec. 19, 1990, P.L.834, No.198, eff. imd.; Dec. 18, 1992, P.L.1333, No.169, eff. 60 days)
1992 Amendment. Act 169 amended subsec. (b).
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 15 - Corporate Powers, Duties and Safeguards
Section 1501 - Corporate capacity
Section 1503 - Defense of ultra vires
Section 1504 - Adoption, amendment and contents of bylaws
Section 1505 - Persons bound by bylaws
Section 1506 - Form of execution of instruments
Section 1507 - Registered office
Section 1508 - Corporate records; inspection by shareholders
Section 1509 - Bylaws and other powers in emergency
Section 1510 - Certain specifically authorized debt terms
Section 1511 - Additional powers of certain public utility corporations
Section 1512 - Informational rights of a director
Section 1513 - Forum selection provisions
Section 1521 - Authorized shares
Section 1522 - Issuance of shares in classes or series; board action
Section 1523 - Pricing and issuance of shares
Section 1524 - Payment for shares
Section 1525 - Stock rights and options
Section 1526 - Liability of shareholders
Section 1527 - Issuance of fractional shares or scrip
Section 1528 - Shares represented by certificates and uncertificated shares
Section 1529 - Transfer of securities; restrictions
Section 1530 - Preemptive rights of shareholders
Section 1531 - Voting powers and other rights of certain securityholders and other entities
Section 1532 - Effect of failure to surrender securities converted by reorganization
Section 1551 - Distributions to shareholders
Section 1552 - Power of corporation to acquire its own shares
Section 1553 - Liability for unlawful dividends and other distributions
Section 1554 - Financial reports to shareholders
Section 1571 - Application and effect of subchapter
Section 1573 - Record and beneficial holders and owners
Section 1574 - Notice of intention to dissent
Section 1575 - Notice to demand payment
Section 1576 - Failure to comply with notice to demand payment, etc
Section 1577 - Release of restrictions or payment for shares
Section 1578 - Estimate by dissenter of fair value of shares