Section 25.2. Applicability of nonstock corporation provisions

(a) Section 2101 of the BCL (relating to application and effect of chapter) provides for three types of nonstock corporations:

(1) Business corporations which have:

(i) Incorporated on Form DSCB:15-1306/2102/2303/2702/2903/3101/7102A (Articles of Incorporation-For Profit) with a nonstock election indicated.

(ii) Elected to become nonstock corporations by filing Form DSCB: 15-2104 (Articles of Amendment-Election of Nonstock Status-Domestic Business Corporation).

(2) A domestic corporation for profit subject to Part II, Subpart D of the code (relating to cooperative corporations) organized on a nonstock basis.

(3) A domestic insurance corporation that is a mutual insurance company.

(b) A nonstock corporation may be one or more of the following:

(1) A statutory close corporation.

(2) A registered corporation.

(3) A management corporation.

(4) A professional corporation.

(5) An insurance corporation.

The provisions of this § 25.2 adopted April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993.