6162 - Effect of domestication. SUBPART D. COOPERATIVE CORPORATIONS - Pennsylvania Statutes

§ 6162. Effect of domestication. As a domestic nonprofit corporation, the domesticated corporation shall no longer be a foreign nonprofit corporation for the purposes of this subpart and shall have all the powers and privileges and be subject to all the duties and limitations granted and imposed upon domestic nonprofit corporations. The property, franchises, debts, liens, estates, taxes, penalties and public accounts due the Commonwealth shall continue to be vested in and imposed upon the corporation to the same extent as if it were the successor by merger of the domesticating corporation with and into a domestic nonprofit corporation under Subchapter C of Chapter 59 (relating to merger, consolidation and sale of assets). Memberships in the domesticated corporation shall be unaffected by the domestication except to the extent, if any, reclassified in the articles of domestication.