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§ 1806. Articles of dissolution

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and BankingEffective: December 24, 2012

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 7 P.S. Banks and Banking (Refs & Annos)
Banking Code of 1965 (Refs & Annos)
Chapter 18. Voluntary and Involuntary Dissolution; Distribution of Assets upon Insolvency (Refs & Annos)
Effective: December 24, 2012
7 P.S. § 1806
§ 1806. Articles of dissolution
(a) Contents--When all the liabilities of the institution have been discharged and all of its remaining assets have been distributed to its shareholders pursuant to section 1805,1 articles of dissolution shall be signed by two duly authorized officers of the institution and shall contain:
(i) the name of the institution and the post office address of its principal place of business,
(ii) a statement that the institution has previously delivered a certificate of election to dissolve to the Department of Banking and the date on which the approved certificate was filed in the Department of State,
(iii) a statement that all liabilities of the institution have been discharged and that the remaining assets of the institution have been distributed to its shareholders, and
(iv) a statement that there are no suits pending against the institution.
(b) Action by Department of Banking--The articles of dissolution shall be delivered to the department together with any applicable filing fee. If the Department of Banking finds that the articles satisfy the requirements of this act, it shall deliver them with its written approval to the Department of State.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 1806. Amended 2012, Oct. 24, P.L. 1336, No. 170, § 54, effective in 60 days [Dec. 24, 2012].

Footnotes

7 P.S. § 1805.
7 P.S. § 1806, PA ST 7 P.S. § 1806
Current through 2022 Regular Session Act 40. Some statute sections may be more current, see credits for details.
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