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§ 302. Number and qualifications of incorporators

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 17 Pa.C.S.A. Credit Unions

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 17 Pa.C.S.A. Credit Unions (Refs & Annos)
Chapter 3. Incorporation
17 Pa.C.S.A. § 302
§ 302. Number and qualifications of incorporators
(a) General rule.--A credit union may be incorporated pursuant to the provisions of this title by seven or more incorporators. Such incorporators shall be natural persons of full age, the majority of whom are residents of this Commonwealth and who have a common bond of association as provided in section 701 (relating to membership).
(b) Central or corporate credit unions.--A central or corporate credit union may be incorporated, pursuant to the provisions of this title, by 15 or more credit unions chartered under the laws of the United States or of any state, which have agreed to purchase shares in the credit union in amounts not less than the minimum specified in the bylaws.

Credits

1990, Dec. 19, P.L. 834, No. 198, § 302, effective in two months.
17 Pa.C.S.A. § 302, PA ST 17 Pa.C.S.A. § 302
Current through 2022 Regular Session Act 96. Some statute sections may be more current, see credits for details.
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