Election of an existing business corporation to become a statutory close corporation.
15 Pa.C.S. § 2305
in effect(a) General rule.--A business corporation may become a statutory close corporation under this chapter by amending its articles so that they shall contain, in addition to the requirements of section 1911(b) (relating to exceptions):
(1) A heading stating the name of the corporation and that it is a statutory close corporation.
(2) A statement that it elects to become a statutory close corporation.
(3) The provision required by section 2304(a) (relating to additional contents of articles of statutory close corporations).
(b) Procedure.--The amendment shall not be effective unless it is adopted by the affirmative vote of all shareholders of the corporation whether or not otherwise entitled to vote thereon.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM&ttl=15Fetched: 10/16/2026