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§ 2103. Penalties applicable to institutions for violation of section 705

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 7 P.S. Banks and Banking (Refs & Annos)
Banking Code of 1965 (Refs & Annos)
Chapter 21. Penalties and Criminal Provisions
7 P.S. § 2103
§ 2103. Penalties applicable to institutions for violation of section 705
An institution which fails to give written notice to the department of a deficiency in its reserve fund as required by section 7051 shall pay to the department a penalty of fifty dollars ($50) for each day that it does not give such notice after the time fixed by section 705 for the giving of such notice. The department may in its discretion relieve any institution from the payment of such penalty, in whole or in part, upon a showing to the department of good cause for the failure of the institution to give such notice. If an institution fails to pay a penalty from which it has not been thus relieved, the Department of Banking may through the Department of Justice maintain an action at law to recover it.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 2103.

Footnotes

7 P.S. § 705.
7 P.S. § 2103, PA ST 7 P.S. § 2103
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
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