Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 25 - Registered Corporations
Section 2530 - Qualifications of directors

(a) General rule.--The bylaws of a registered corporation may not impose a qualification of directors that is based on a past, present or future action by a nominee or director in the discharge of the director's powers or duties as a governor of an association.
(b) Certain permitted qualifications.--This section does not prohibit qualifications relating to:
(1) not having entered a guilty plea, or not being or having been subject to a criminal conviction, civil judgment or regulatory sanction or penalty; or
(2) not having been removed as a governor of an association by judicial action or for cause.
(c) Relationship to nomination procedures.--This section applies to a qualification included in a nomination procedure adopted under section 1758(e) (relating to voting rights of shareholders) but does not prohibit the corporation from excluding a nomination that does not comply with such a procedure.
(Nov. 3, 2022, P.L.1791, No.122, eff. 60 days)

2022 Amendment. Act 122 added section 2530.
Cross References. Section 2530 is referred to in section 1722 of this title.

Structure Pennsylvania Consolidated & Unconsolidated Statutes