Home Table of Contents

§ 1102. Minimum capital

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 11. Capital Surplus, Expense Fund and Capital Securities
Effective: December 24, 2012
7 P.S. § 1102
§ 1102. Minimum capital
Currentness
(a) Existing institutions--The minimum capital of an institution in existence on the effective date of this act shall be:
(i) the amount required by subsection (b) of this section, or
(ii) such lesser amount as the institution had on the effective date of this act but not less than the minimum amount required by law prior to such effective date.
(b) New institutions--An institution which is incorporated pursuant to this act, or an institution that becomes subject to this act due to a conversion, shall establish and maintain minimum capital in an amount specified by the department.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 1102. Amended 1982, April 8, P.L. 262, No. 79, § 13, imd. effective; 2012, Oct. 24, P.L. 1336, No. 170, § 38, effective in 60 days [Dec. 24, 2012].
7 P.S. § 1102, PA ST 7 P.S. § 1102
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document