§ 29.1. Applicability of registered corporation provisions.
(a) Section 2502 of the BCL (relating to registered corporation status) provides that a registered corporation is a domestic business corporation that meets one of the following conditions:
(1) Has a class or series of shares entitled to vote generally in the election of directors of the corporation registered under the Securities Exchange Act of 1934 (15 U.S.C.A. § § 78a—78kk).
(2) Is registered as a management company under the Investment Company Act of 1940 (15 U.S.C.A. § § 80a-1—80a-64).
(3) Is subject to the reporting obligations imposed by section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C.A. § 78o(d)) by reason of having filed a registration statement which has become effective under the Securities Act of 1933 (15 U.S.C.A. § § 77a—77aa) relating to shares of a class or series of its equity securities entitled to vote generally in the election of directors.
(4) Is a corporation all of the shares of which are owned, directly or indirectly, by one or more registered corporations or foreign corporations for profit described in section 4102(b) of the BCL (relating to foreign domiciliary corporations).
(b) Registered corporation status is automatic, and a filing in the Department is not required to be made with respect to the acquisition or termination of that status. Filings affecting the status of a business corporation as a registered corporation shall be made with the Federal Securities and Exchange Commission.
(c) A registered corporation may be one or more of the following:
(1) A nonstock corporation.
(2) A statutory close corporation.
(3) A management corporation.
(4) A professional corporation.
(5) An insurance corporation.
Source The provisions of this § 29.1 adopted June 22, 1973, effective June 23, 1973, 3 Pa.B. 1164; amended April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993. Immediately preceding text appears at serial page (24788).
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