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§ 6254. Liquidating officer may borrow from federal agency

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)
Miscellaneous Laws
Chapter 56. Insolvency and Liquidation
7 P.S. § 6254
§ 6254. Liquidating officer may borrow from federal agency
The officer, person, body, or committee in charge of the liquidation of any State bank, bank and trust company, or trust company, following surrender of the liquidation thereof by the Secretary of Banking, in the manner provided by law, shall have power to borrow money from any agency or instrumentality of the United States Government, except from National banks or of the Commonwealth of Pennsylvania, and pledge or hypothecate, as security therefor, any real or personal property of the institution for the purpose of expediting the liquidation of the assets of such institution.

Credits

1935, July 12, P.L. 970, No. 313, § 1.
7 P.S. § 6254, PA ST 7 P.S. § 6254
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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