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§ 1504. Revocation of authorization to do business

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 17 Pa.C.S.A. Credit UnionsEffective: February 7, 2003

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 17 Pa.C.S.A. Credit Unions (Refs & Annos)
Chapter 15. Out-of-State Credit Unions
Effective: February 7, 2003
17 Pa.C.S.A. § 1504
§ 1504. Revocation of authorization to do business
Currentness
The department may revoke the approval of an out-of-State credit union to conduct business as a credit union in this Commonwealth if the department makes any of the following findings:
(1) The out-of-State credit union no longer meets the requirements of section 1501 (relating to authorization to do business).
(2) The out-of-State credit union has violated Pennsylvania statutes or regulations or orders of the department.
(3) The out-of-State credit union has engaged in a pattern of unsafe or unsound credit union practices.
(4) Continued operation by the out-of-State credit union is likely to have a substantially adverse impact on the financial, economic or other interests of residents of this Commonwealth served by the out-of-State credit union.

Credits

1990, Dec. 19, P.L. 834, No. 198, § 302, effective in two months. Amended 2002, Dec. 9, P.L. 1572, No. 207, § 13, effective in 60 days.
17 Pa.C.S.A. § 1504, PA ST 17 Pa.C.S.A. § 1504
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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