Coverage note: this corpus holds the
consolidated Pa.C.S. titles only. Unconsolidated P.S. statutes (UTPCPL 73 P.S. § 201-1, Liquor Code, wage payment laws) are not included; a miss here does not mean the statute does not exist. Check
palegis.us.
§ 517. Limitation on standing.
The duty of the board of directors, committees of the board and individual directors
under section 512 (relating to standard of care, justifiable reliance and business
judgment rule) is solely to the domestic corporation and not to any shareholder, member
or creditor or any other person or group, and may be enforced directly by the corporation
or may be enforced by an action in the right of the corporation, and may not be enforced
directly by a shareholder, member or creditor or by any other person or group. Notwithstanding
the preceding sentence, sections 515(a) and (b) (relating to exercise of powers generally)
and 516(a) (relating to alternative standard) do not impose upon the board of directors,
committees of the board and individual directors any legal or equitable duties, obligations
or liabilities or create any right or cause of action against, or basis for standing
to sue, the board of directors, committees of the board and individual directors.
(Nov. 3, 2022, P.L.1791, No.122, eff. 60 days)
Notes of Decisions
Commonwealth v. Janssen Pharmaceutica, Inc., 8 A.3d 267 (Pa. 2010).
· cites it 2× “, 15 Pa.C.S. §§ 517 (corporations generally), 1717 (domestic business corporations), 5717 (domestic non-profit corporations) (limiting standing of different types of corporations' individual directors, board of directors and committees of board to sue board of directors,…”
Harold C. Lampe, Jr V., 665 F.3d 506 (3rd Cir. 2011).
“15 Pa. Cons.Stat. Ann. § 517 (West 2011); see In re Insulfoams, Inc.”
Kitty Ward Travel v. Ward, T. (Pa. Super. Ct. 2016).
“Marianne and Bridget pled therein that they were officers and shareholders of KWT and that they were bringing the action in the right of the corporation pursuant to 15 Pa.C.S. §§ 517, 1782. Complaint, 1/19/10, at ¶81.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.