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PA Corporations > Basics > Flashcards

Basics Flashcards

1
Q

What statute creates corporations in PA?

A

the PA Business Corporation Law (BCL)

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2
Q

Corporate Characteristics

A
  1. Separate legal entitiy from owner shareholders
  2. Limited liablity for the shareholders
  3. Free transferability of interes – shareholders can sell shares to any transferee they want
  4. Centralized management
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PA Corporations (12 decks)

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