Pennsylvania § 7102 - Cooperative corporations generally.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 7102 — Cooperative corporations generally., with citation guidance and answers to common questions.
§ 7102. Cooperative corporations generally.
(a) General rule.--Any corporation incorporated under this part may be organized on the cooperative principle by setting forth in its articles a common bond of membership among its shareholders or members by reason of occupation, residence or otherwise and that it is a cooperative corporation.
(b) Applicable law.--A corporation incorporated under this subpart shall be governed by the applicable provisions of this subpart and, to the extent not inconsistent with this subpart:
(1) Subpart B (relating to business corporations) if its articles state that it is incorporated for a purpose or purposes involving pecuniary profit, incidental or otherwise, to its shareholders or members or if its articles are silent on the subject.
(2) Subpart C (relating to nonprofit corporations) if:
(i) its articles state that it is incorporated for a purpose or purposes not involving pecuniary profit; or
(ii) it is subject to Chapter 73 (relating to electric cooperative corporations).
(c) Credit unions.--This subpart shall not apply to a credit union, whether proposed or existing, except as otherwise provided by Title 17 (relating to credit unions).
(d) Workers' cooperative corporations.--Except as otherwise expressly provided in Chapter 77 (relating to workers' cooperative corporations), only Chapters 1 (relating to general provisions), 5 (relating to corporations) and 77 shall apply to a corporation subject to Chapter 77. A cooperative corporation may be incorporated under this chapter notwithstanding the fact that its corporate purposes consist of or include a purpose or purposes within the scope of Chapter 77.
(Dec. 19, 1990, P.L.834, No.198, eff. imd.)
Cross References. Section 7102 is referred to in sections 7104, 7105, 7106, 7107 of this title.
Frequently Asked Questions About Pennsylvania § 7102
What does Pennsylvania Consolidated Statutes § 7102 cover?
Section 7102 ("Cooperative corporations generally.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 7102?
A common citation format is "Pennsylvania Consolidated Statutes § 7102" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 7102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.