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§ 903. Change of location of office

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 9. Offices (Refs & Annos)
7 P.S. § 903
§ 903. Change of location of office
(a) Change of principal place of business--An institution may, with the prior written approval of the department and, in the case of an incorporated institution by amendment of its articles, change the location of its principal place of business to a new location anywhere in this Commonwealth.
(b) Change of branch--An institution may, pursuant to a resolution of its board of directors or trustees, or in the case of a private bank its owners, and with the prior written approval of the department, change the location of a branch to a new location in the same manner and subject to the same requirements and limitations as are prescribed by this act for the establishment of branches.
(c) Temporary change for alterations--An institution may, with the prior written approval of, and for a period fixed by, the department, change the location of its principal place of business or of a branch to permit the alteration or improvement of the premises then occupied by such office.
(d) Discontinuance of office--Upon the change of location of an office pursuant to subsections (a) and (b) of this section, the institution may not maintain a branch at the former location unless such office shall be authorized as a branch pursuant to this act.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 903. Amended 1982, March 4, P.L. 135, No. 44, § 3, imd. effective; 1982, April 8, P.L. 262, No. 79, § 11, imd. effective; 1990, Dec. 18, P.L. 766, No. 191, § 8, imd. effective.
7 P.S. § 903, PA ST 7 P.S. § 903
Current through 2022 Regular Session Act 40. Some statute sections may be more current, see credits for details.
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