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§ 1903. Application for certificate of authorization

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 19. Private Banks (Refs & Annos)
7 P.S. § 1903
§ 1903. Application for certificate of authorization
(a) Signature--Every private bank which is required to obtain a new certificate of authorization shall file a written application with the department, which shall be signed in duplicate originals:
(i) in the case of a private bank owned and operated by an individual, by him, and
(ii) in the case of a private bank owned and operated by a partnership, by not less than two of the partners and also, in the case of a private bank filing an application by reason of the admission of a new partner or partners, by the partner or partners being admitted.
(b) Contents--The application shall be in the form prescribed by the department, and shall set forth:
(i) The name of the private bank;
(ii) the location of the place or places of business of the private bank;
(iii) the full name, residence, post-office address and citizenship of the individual applicant or of each partner of the applicant and the names and post-office addresses of the officers or agents in active charge of the business of the private bank;
(iv) the statement that, in the case of a private bank owned by an individual, he is a resident of Pennsylvania, and in the case of a private bank owned by a partnership, at least one partner is or is about to become a resident of Pennsylvania;
(v) in the case of a partnership, the partnership agreement, or a statement that the liability of each partner is unlimited;
(vi) a detailed statement of the resources, liabilities, and net worth of the private bank; and
(vii) any other information bearing upon its financial condition, which the department shall prescribe.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 1903.
7 P.S. § 1903, PA ST 7 P.S. § 1903
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
End of Document