§ 304. Direct leasing of personal property
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and BankingEffective: December 24, 2012
Effective: December 24, 2012
7 P.S. § 304
§ 304. Direct leasing of personal property
An institution may acquire and lease personal property pursuant to a binding arrangement for the leasing of such property to a customer upon terms requiring payment to the institution, during the minimum period of the lease, of rentals which in the aggregate will exceed the total expenditures by the institution for or in connection with the acquisition, ownership, maintenance and protection of the property.
Credits
1965, Nov. 30, P.L. 847, No. 356, § 304. Amended 2012, Oct. 24, P.L. 1336, No. 170, § 10, effective in 60 days [Dec. 24, 2012].
7 P.S. § 304, PA ST 7 P.S. § 304
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
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