Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6040-5. Capital stock

(1) The capital stock of a corporation shall be not less than one hundred thousand dollars ($100,000) to be evidenced by ten thousand shares, having a par value of ten dollars ($10), each. At least ten per cent of the capital stock of any such corporation shall be paid into its treasury in cash before it is authorized to transact any business other than such as relates to its organization.

(2) The holders of capital stock of such corporations shall not have any preemptive or preferential right to purchase or subscribe for any part of the unissued or new issue of capital stock of such corporations, whether now or hereafter authorized or issued, and shall not have any preemptive or preferential right to purchase or subscribe for any bonds or other obligations, whether or not convertible into stock of such corporations, now or hereafter authorized or issued.