SENATE AMENDED
PRIOR PRINTER'S NOS. 1706, 2064 PRINTER'S NO. 2356
No. 1436 Session of 1991
INTRODUCED BY HOLL, NOVEMBER 19, 1991
SENATE AMENDMENTS TO HOUSE AMENDMENTS, JUNE 16, 1992
AN ACT
1 Amending the act of November 30, 1965 (P.L.847, No.356),
2 entitled "An act relating to and regulating the business of
3 banking and the exercise by corporations of fiduciary powers;
4 affecting persons engaged in the business of banking and
5 corporations exercising fiduciary powers and affiliates of
6 such persons; affecting the shareholders of such persons and
7 the directors, trustees, officers, attorneys and employes of
8 such persons and of the affiliates of such persons; affecting
9 national banks located in the Commonwealth; affecting persons
10 dealing with persons engaged in the business of banking,
11 corporations exercising fiduciary powers and national banks;
12 conferring powers and imposing duties on the Banking Board,
13 on certain departments and officers of the Commonwealth and
14 on courts, prothonotaries, clerks and recorders of deeds;
15 providing penalties; and repealing certain acts and parts of
16 acts," further providing for authorized offices.
17 The General Assembly of the Commonwealth of Pennsylvania
18 hereby enacts as follows:
19 Section 1. Section 902 of the act of November 30, 1965
20 (P.L.847, No.356), known as the Banking Code of 1965, is amended
21 to read:
22 Section 902. Authorized Offices
23 [An] (a) General rule--Except as provided in subsection (b),
24 an institution may not maintain any office for the conduct of
1 its business other than:
2 [(a)] (i) its principal place of business designated in
3 its articles, or in the case of a private bank in its
4 certificate of authorization or in the case of an employes'
5 mutual banking association in a certificate issued by the
6 department,
7 [(b)] (ii) branches authorized prior to the effective
8 date of this act or authorized pursuant to this act, and
9 [(c)] (iii) offices, agencies and other places of
10 business which do not constitute branches as defined in this
11 act.
12 (b) Affiliates--An institution may establish and operate as
13 a branch, any principal place of business or branch of an
14 affiliated State or national bank, savings bank or savings <--
15 association of such institution, FEDERAL SAVINGS BANK, STATE <--
16 SAVINGS ASSOCIATION OR FEDERAL SAVINGS AND LOAN ASSOCIATION upon
17 written approval by the department of an application for
18 approval in a form prescribed by the department accompanied by
19 any applicable fee. The department may issue regulations under
20 this subsection; however, the absence of regulations shall not
21 be a bar to consideration by the department of an application
22 filed under this subsection nor a basis for denial of such an
23 application.
24 Section 2. This act shall take effect immediately.
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