2901 - Application and effect of chapter. - Pennsylvania Statutes

CHAPTER 29 PROFESSIONAL CORPORATIONS Subchapter A. Preliminary Provisions B. Powers, Duties and Safeguards Enactment. Chapter 29 was added December 21, 1988, P.L.1444, No.177, effective October 1, 1989. Cross References. Chapter 29 is referred to in sections 1103, 9303 of this title; section 2524 of Title 42 (Judiciary and Judicial Procedure). SUBCHAPTER A PRELIMINARY PROVISIONS Sec. 2901. Application and effect of chapter. 2902. Definitions and index of definitions. 2903. Formation of professional corporations. 2904. Election of an existing business corporation to become a professional corporation. 2905. Election of professional associations to become professional corporations. 2906. Termination of professional corporation status. 2907. Proceedings to terminate breach of qualifying conditions. § 2901. Application and effect of chapter. (a) General rule.--This chapter shall be applicable to a business corporation, other than a management corporation, that: (1) on the effective date of this chapter was subject to the act of July 9, 1970 (P.L.461, No.160), known as the Professional Corporation Law; or (2) elects to become a professional corporation in the manner provided by this chapter. (b) Application to business corporations generally.--The existence of a provision of this chapter shall not of itself create any implication that a contrary or different rule of law is or would be applicable to a business corporation that is not a professional corporation, and this chapter shall not affect any statute or rule of law that is or would be applicable to a business corporation that is not a professional corporation. This chapter shall not alter or affect any right or privilege existing under any statute or general rule heretofore or hereafter enacted by the General Assembly or (with respect to attorneys at law) prescribed by the Supreme Court of Pennsylvania: (1) not prohibiting; or (2) in terms permitting; performance of professional services in corporate form by a corporation that is not a professional corporation. (c) Laws applicable to professional corporations.--Except as otherwise provided in this chapter, this subpart shall be generally applicable to all professional corporations. The specific provisions of this chapter shall control over the general provisions of this subpart. Except as otherwise provided in this article, a professional corporation may be simultaneously subject to this chapter and one or more other chapters of this article.