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Current as of January 01, 2025 | Updated by Findlaw Staff
Said lands and property shall again become liable to escheat to this commonwealth, as already provided by law, if said corporation shall continue to hold said lands and property exceeding five years after the passage of this act, and an information in the nature of a quo warranto or other proper proceeding shall be filed or brought by this commonwealth to escheat the same: Provided, That no railroad, canal, or other transportation company of this state, nor any corporation, in whose name the title to other lands or property is held, shall plead or have the benefit of this act, unless it shall have previously filed with the secretary of the commonwealth a certificate in writing, signed by the president and secretary, and attested by the corporate seal of the company, stating that, at a regular or special meeting of said board of directors, a resolution, in pursuance to the consent of the stockholders, was adopted, accepting all the provisions of the seventeenth article of the constitution of the state, and that all the powers of and privileges and limitations and restrictions mentioned therein shall be deemed and taken for all purposes to apply to said corporation. No such certificate shall be made by the officers aforesaid without the consent of the stockholders of the corporation, at a general or special meeting, first had and obtained: Provided further, That no railroad, canal or other transportation company shall plead or have the benefit of this act, unless it shall have previously filed, with the secretary of the state, its acceptance of all the provisions of article seventeen of the constitution of this state, in manner and form as provided by law.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 27 P.S. Escheats § 185. When such property may be escheated - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-27-ps-escheats/pa-st-sect-27-185/
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