§ 1306. Involuntary dissolution
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 17 Pa.C.S.A. Credit UnionsEffective: February 7, 2003
Effective: February 7, 2003
17 Pa.C.S.A. § 1306
§ 1306. Involuntary dissolution
(a) Issuance of certificate of dissolution by department.--In the event the department finds, after issuing written notice of a hearing and an opportunity to be heard to a credit union, that the credit union has not exercised any of its powers or opened for business with its proposed members within one year after the date of its incorporation or such longer time as the department may allow, then the department shall issue under its seal a certificate of dissolution reciting the applicable facts and stating that articles of incorporation have been forfeited by reason of such facts and shall file the certificate of dissolution with the Department of State.
Credits
2002, Dec. 9, P.L. 1572, No. 207, § 12, effective in 60 days.
17 Pa.C.S.A. § 1306, PA ST 17 Pa.C.S.A. § 1306
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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