Section 2527 - Authority of board of directors

The authority, powers and functions of the board of directors of a registered corporation described in section 2502(1) (relating to registered corporation status) may not be varied, and a committee of the board of such a corporation may not be established, by a bylaw adopted by the shareholders unless the bylaw has been adopted: (1) with the approval of the board of directors; (2) on or before August 21, 2001; or (3) at a time when the corporation was not a registered corporation described in section 2502(1). (June 22, 2001, P.L.418, No.34, eff. 60 days) 2001 Amendment. Act 34 added section 2527. Cross References. Section 2527 is referred to in section 1721 of this title.