Section 23.15. Other provisions in the articles

Section 1306(a)(8) of the BCL (relating to articles of incorporation) authorizes the articles of incorporation of a business corporation to contain other provisions, subject to certain enumerated exceptions, which the incorporator may choose to insert if one of the following exists:

(1) A section of the BCL authorizes or requires provisions pertaining to that subject matter to be set forth in the articles or bylaws of a business corporation or in an agreement or other instrument.

(2) The provisions, whether or not specifically authorized by the BCL, relate to the purpose of the corporation, the management of its business or affairs or to the rights, powers or duties of its security holders, directors or officers.

The provisions of this § 23.15 adopted April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993.