Section 23.7. Subscription by incorporator unnecessary

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Section 1306(a)(5) of the BCL (relating to articles of incorporation) requires that the articles of incorporation of a business corporation set forth the name and post office address of the incorporator or of each of the incorporators. A statement of the number of shares subscribed by each incorporator is not required and incorporators are not required to be shareholders.

The provisions of this § 23.7 adopted April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993.

Notation

Cross References

This section cited in 19 Pa. Code § 33.2 (relating to incorporators).

                    
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