§ 1105. Capital securities
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking
7 P.S. § 1105
§ 1105. Capital securities
Notes, debentures and other obligations issued by an institution shall be deemed “capital securities” for the purpose of this act if they:
(a) are subordinated in right of payment, in the event of insolvency or liquidation of the institution, to the prior payment of all deposits of the institution and of all claims of other creditors of the institution except the holders of securities on a parity therewith and the holders of securities expressly subordinated thereto,
Credits
1965, Nov. 30, P.L. 847, No. 356, § 1105. Amended 1977, July 25, P.L. 101, No. 37, § 7, imd. effective.
7 P.S. § 1105, PA ST 7 P.S. § 1105
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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