Form DSCB:15-2309A / 2309B Business / Statutory Close Corporation - Breach of Qualifying Condition / Cure of Breach - Pennsylvania

What Is Form DSCB:15-2309A/2309B?

This is a legal form that was released by the Pennsylvania Department of State - a government authority operating within Pennsylvania. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form DSCB:15-2309A/2309B?A: Form DSCB:15-2309A/2309B is a form used for addressing a breach of qualifying condition or cure of breach in a business or statutory close corporation in Pennsylvania.

Q: What is a business close corporation?A: A business close corporation is a type of corporation with a limited number of shareholders, often members of the same family or small group, and special restrictions on the transfer of shares.

Q: What is a statutory close corporation?A: A statutory close corporation is a type of corporation that has elected to be governed by special provisionsin state law for close corporations.

Q: What is a qualifying condition?A: A qualifying condition is a requirement that must be met by a corporation in order to maintain its status as a close corporation.

Q: What happens if a qualifying condition is breached?A: If a qualifying condition is breached, the corporation may lose its close corporation status and become subject to different rules and requirements.

Q: What is the purpose of Form DSCB:15-2309A/2309B?A: The purpose of Form DSCB:15-2309A/2309B is to address a breach of qualifying condition or provide a cure for such breach in a business or statutory close corporation.

Q: How can a breach of qualifying condition be cured?A: A breach of qualifying condition can be cured by taking appropriate actions to rectify the breach and bring the corporation back into compliance.

Q: Who can use Form DSCB:15-2309A/2309B?A: Form DSCB:15-2309A/2309B can be used by shareholders or directors of a business or statutory close corporation in Pennsylvania to address a breach of qualifying condition.