Section 23.10. Preemptive rights

Sections 1306(a)(8) and 1530(a) of the BCL (relating to articles of incorporation; and preemptive rights of shareholders) authorizes the articles of incorporation of a business corporation to set forth provisions granting or denying to shareholders preemptive rights to subscribe to some or all issues of shares or securities of the corporation and provides that unless otherwise provided in the articles of a business corporation, a business corporation may issue shares, option rights or securities having conversion or option rights, without first offering them to shareholders of a class. See § 27.7 (relating to preemptive rights).

The provisions of this § 23.10 adopted April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993.