PRINTER'S NO. 636
No. 582 Session of 1977
INTRODUCED BY BITTINGER, SCHMITT, McINTYRE, COHEN, CIANCIULLI,
JONES, GLEESON, LEHR, HOEFFEL, FREIND, POLITE, COWELL,
KERNICK, BROWN AND BORSKI, MARCH 8, 1977
REFERRED TO COMMITTEE ON BUSINESS AND COMMERCE, MARCH 8, 1977
AN ACT
1 Amending the act of May 15, 1933 (P.L.565, No.111), entitled "An
2 act relating to the powers and duties of the Department of
3 Banking and the Secretary of Banking in exercising
4 supervision over, and taking possession of and conducting or
5 liquidating the business and property of, corporations,
6 associations, and persons receiving deposits or otherwise
7 transacting a banking business, corporations acting as
8 fiduciaries, and building and loan associations; providing
9 for the payment of the expenses of the Department of Banking
10 by supervised corporations, associations, or persons, and
11 appropriating the Banking Department Fund; authorizing the
12 Department of Banking, under certain circumstances, to
13 examine corporations, associations, or persons affiliated, or
14 having business transactions with supervised corporations,
15 associations or persons; authorizing appeals to the Supreme
16 Court, and prescribing and limiting the powers and duties of
17 certain other courts and their prothonotaries, registers of
18 wills, recorders of deeds, and certain State departments,
19 commissions, and officers; authorizing certain local public
20 officers and State departments to collect fees for services
21 rendered under this act; providing penalties; and repealing
22 certain acts and parts of acts," providing for disclosure of
23 examinations or investigations made by the department.
24 The General Assembly of the Commonwealth of Pennsylvania
25 hereby enacts as follows:
26 Section 1. Section 302, act of May 15, 1933 (P.L.565,
27 No.111), known as the "Department of Banking Code," is amended
28 to read:
1 Section 302. Disclosure of Information Forbidden; Penalty;
2 Exceptions.--[A. Neither the secretary, nor any deputy,
3 examiner, clerk, or other employe of the department, shall] The
4 secretary may, when the public interest would be served, publish
5 or divulge to anyone any information contained in or ascertained
6 from any examination or investigation made by the department, or
7 any letter, report, or statement sent to the department, or any
8 other paper or document in the custody of the department, except
9 when the publication or divulgement of such information is [made
10 by the department pursuant to the provisions of] otherwise
11 prohibited by this act or of any other law of this Commonwealth,
12 [or when the production of such information is required by
13 subpoena or other legal process of a court of competent
14 jurisdiction, or when it is used in prosecutions or other court
15 actions instituted by or on behalf of the department.] Such
16 information shall not be open for public inspection, except by
17 order of the secretary.
18 [B. A violation of the provisions of this section by the
19 secretary, or by any deputy, examiner, clerk, or other employe
20 of the department, shall be sufficient ground for his removal
21 from office. In addition the secretary, deputy, examiner, clerk,
22 or other employe committing such violation shall be deemed
23 guilty of a misdemeanor, and shall, upon conviction thereof, be
24 subject to imprisonment for a period not exceeding one year, or
25 a fine not exceeding one thousand dollars, or both.]
26 Section 2. This act shall take effect in 60 days.
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