§ 510. Liability for unlawful distributions
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking
7 P.S. § 510
§ 510. Liability for unlawful distributions
(i) a trustee who voiced his dissent at the meeting at which the action was authorized and requested that his dissent be entered on the minutes of the meeting or who, if he was absent at the time, promptly upon learning of the action filed his written objection thereto with the secretary of the savings bank, or
(ii) a trustee who relied and acted upon financial statements of the savings bank represented to him to be correct by the president of the savings bank or by an officer responsible for its accounts or stated in a written report by an independent public or certified public accountant or firm of such accountants fairly to reflect the financial condition of the savings bank.
Credits
1965, Nov. 30, P.L. 847, No. 356, § 510. Amended 1982, April 8, P.L. 262, No. 79, § 9, imd. effective.
7 P.S. § 510, PA ST 7 P.S. § 510
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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