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                                                      PRINTER'S NO. 1580

THE GENERAL ASSEMBLY OF PENNSYLVANIA


HOUSE BILL

No. 1265 Session of 2007


        INTRODUCED BY CONKLIN, McCALL, SOLOBAY, SIPTROTH, HARHAI, MUNDY,
           CAUSER, JOSEPHS, SAINATO, GIBBONS, M. O'BRIEN, PETRARCA,
           MENSCH, BROOKS, MOYER, DALEY, GRUCELA, MAHONEY, HESS AND
           PARKER, MAY 18, 2007

        REFERRED TO COMMITTEE ON AGRICULTURE AND RURAL AFFAIRS,
           MAY 18, 2007

                                     AN ACT

     1  Amending Title 64 (Public Authorities and Quasi-Public
     2     Corporations) of the Pennsylvania Consolidated Statutes,
     3     further providing for the definitions of "commercial lending
     4     activities" and "commercial lending institutions."

     5     The General Assembly of the Commonwealth of Pennsylvania
     6  hereby enacts as follows:
     7     Section 1.  The definitions of "commercial lending
     8  activities" and "commercial lending institutions" in section
     9  1504 of Title 64 of the Pennsylvania Consolidated Statutes are
    10  amended to read:
    11  § 1504.  Definitions.
    12     The following words and phrases when used in this chapter
    13  shall have the meaning given to them in this section unless the
    14  context clearly indicates otherwise:
    15     * * *
    16     "Commercial lending activities."  The making of loans and the
    17  provision of deposit services to business entities[.], except


     1  that a farm credit system institution under the Farm Credit Act
     2  of 1971 (Public Law 92-181, 85 Stat. 583) need not offer deposit
     3  services to qualify as a provider of commercial lending
     4  activities under this chapter.
     5     "Commercial lending institutions."  A federally chartered or
     6  state-chartered bank, savings bank [or], savings and loan
     7  association or farm credit system institution under the Farm
     8  Credit Act of 1971 (Public Law 92-181, 85 Stat. 583) which has a
     9  satisfactory rating from its primary regulator and which is
    10  engaged in commercial lending activities. The institution must
    11  operate at least one full-service branch for deposit gathering
    12  and lending located within this Commonwealth or be a farm credit
    13  system institution under the Farm Credit Act of 1971.
    14     * * *
    15     Section 2.  This act shall take effect in 60 days.










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