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§ 1012. Organization as a limited liability company

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and BankingEffective: December 24, 2012

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 7 P.S. Banks and Banking (Refs & Annos)
Banking Code of 1965 (Refs & Annos)
Chapter 10. Incorporation (Refs & Annos)
Effective: December 24, 2012
7 P.S. § 1012
§ 1012. Organization as a limited liability company
(a) General rule--Subject to any conditions or restrictions as determined by the department, a bank, bank and trust company, trust company or savings bank may be organized as a limited liability company pursuant to 15 Pa.C.S. Ch. 89 (relating to limited liability companies) in order to conduct the business of a bank, bank and trust company, trust company or savings bank subject to this act.
(b) Conflicts--In the event of a conflict between this act and 15 Pa.C.S. Ch. 89 in relation to the conduct of the affairs of an institution, the two statutes shall be construed together, if possible, as one statute. In the event of any unresolvable conflict, this act shall control as determined by the department.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 1012, added 2012, Oct. 24, P.L. 1336, No. 170, § 37, effective in 60 days [Dec. 24, 2012].
7 P.S. § 1012, PA ST 7 P.S. § 1012
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
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