Section 318 - Excluded entities and transactions(a)Excluded entities.--The following entities may not participate in a transaction under this chapter: (1) A cooperative corporation subject to Chapter 73 (relating to electric cooperative corporations).(2) A beneficial, benevolent, fraternal or fraternal benefit society:(i) having a lodge system and a representative form of government; or(ii) transacting any type of insurance.(b)Excluded transactions involving certain nonprofit corporations.--The following apply to nonprofit corporations:(1) Except as provided in paragraph (2), this chapter may not be used to accomplish a transaction that has the effect of converting a domestic nonprofit corporation that is subject to the supervision of the Department of Banking and Securities, the Insurance Department or the Pennsylvania Public Utility Commission to a different type of entity.(2) Paragraph (1) does not apply to a transaction under this chapter in which a health maintenance organization is converted to a different type of entity if the transaction has received the prior approval of the Insurance Department.(c)Cross references.--See sections 103 (relating to subordination of title to regulatory laws) and 314 (relating to regulatory conditions and required notices and approvals).Amended by P.L. TBD 2022 No. 122, § 14, eff. 1/2/2023.Added by P.L. 2639 2014 No. 172, § 9, eff. 7/1/2015.