(a) General rule.--A business corporation, in the manner provided in this subchapter, may from time to time amend its articles for one or more of the following purposes:
(1) To adopt a new name, subject to the restrictions provided in this subpart.
(2) To modify any provision of the articles relating to its term of existence.
(3) To change, add to or diminish its purposes or to set forth different or additional purposes.
(4) To cancel or otherwise affect the right of holders of the shares of any class or series to receive dividends that have accrued but have not been declared or to otherwise effect a reclassification of or otherwise affect the substantial rights of the holders of any shares, including, without limitation, by providing special treatment of shares held by any shareholder or group of shareholders consistent with section 1906 (relating to special treatment of holders of shares of same class or series).
(5) To restate the articles in their entirety.
(6) In any and as many other respects as desired.
(b) Exceptions.--An amendment adopted under this section shall not amend articles in such a way that as so amended they would not be authorized by this subpart as original articles of incorporation except that:
(1) Restated articles shall, subject to section 109 (relating to name of commercial registered office provider in lieu of registered address), state the address of the current instead of the initial registered office of the corporation in this Commonwealth and need not state the names and addresses of the incorporators.
(2) The corporation shall not be required to revise any other provision of its articles if the provision is valid and operative immediately prior to the filing of the amendment in the Department of State.
(c) Cross reference.--See section 1521(b)(1)(i) (relating to provisions specifically authorized).
(Dec. 19, 1990, P.L.834, No.198, eff. imd.; July 9, 2013, P.L.476, No.67, eff. 60 days)
2013 Amendment. Act 67 amended subsec. (a)(4).
1990 Amendment. Act 198 amended subsec. (a) and added subsec. (c).
Cross References. Section 1911 is referred to in section 2305 of this title.
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