Except as otherwise restricted in the bylaws, shares of a business corporation may be issued at a price determined by the board of directors; or the board may authorize one or more directors or one or more officers, acting alone or with the participation of one or more directors, to determine, within limits, pursuant to a formula or method or subject to relevant criteria specifically prescribed by the board: (1) the persons that shares will be issued to; and (2) the number of shares, price or consideration and other terms on which shares will be issued. (July 9, 2013, P.L.476, No.67, eff. 60 days)
Pennsylvania Legal Code