15 Pa.C.S. § 4103 Acquisition of Foreign Domiciliary Corporation Status

• Library: Pennsylvania Statutes
• Edition: 2023
• Currency: Current through P.A. Acts 23-35
• Year: 2023
• Citation: 15 Pa.C.S. § 4103

(a) Shareholding test.--A foreign corporation shall become a foreign domiciliary corporation under section 4102(a) (relating to foreign domiciliary corporations) on the first day of the sixth month following the month in which the corporation first has knowledge that the test has been met.

(b) Newly incorporated corporations.--Where the test under section 4102(a) is met at the time of initial issuance of shares of the corporation and continuously thereafter, foreign domiciliary corporation status when established shall be retroactive to the incorporation of the corporation.

(c) Foreign corporations with registered securities.--The exemption provided by section 4102(b)(1) shall terminate immediately upon the termination of the status of the corporation as a corporation described in that provision.