§ 1808. Involuntary dissolution
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking
7 P.S. § 1808
§ 1808. Involuntary dissolution
(iii) the department shall find, after notice to the institution and a hearing if requested by the institution, that the institution has not exercised any of its powers under its articles, or in the case of a private bank under its certificate of authorization, for any continuous period of two years,
the department shall issue under its seal a certificate of dissolution reciting the applicable facts and stating that the certificate of authorization of the institution and, in the case of an incorporated institution, its articles have been forfeited by reason of such facts and shall file the certificate in the Department of State.
Credits
1965, Nov. 30, P.L. 847, No. 356, § 1808. Amended 1990, Dec. 18, P.L. 766, No. 191, § 10, imd. effective.
7 P.S. § 1808, PA ST 7 P.S. § 1808
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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