§ 25.3. Additional contents of articles of nonstock corporations.

 (a)  Section 2102 of the BCL (relating to formation of nonstock corporations) provides that in addition to the provisions otherwise required by the code, the articles of a nonstock corporation shall set forth:

   (1)  A heading stating the name of the corporation and that it is a nonstock corporation.

   (2)  In lieu of required statements relating to shares or share structure, the fact that the corporation is organized on a nonstock basis.

 (b)  A nonstock corporation may have a minimum guaranteed capital.

Source

   The provisions of this §  25.3 adopted April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993.

Cross References

   This section cited in 19 Pa. Code §  25.5 (relating to termination of nonstock corporation status).

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