Bill Information

An Act amending the act of December 14, 1967 (P. L. 746, No. 345), entitled "Savings Association Code of 1967," reducing the number of incorporators of a savings association; granting additional powers to savings associations; further providing for stock conversions and stock associations; revising lending authorities and limitations; permitting regional ownership of service corporations; revising the restrictions on the transaction of business in this Commonwealth by foreign corporations; eliminating the Savings Association Board; revising advertising requirements in connection with mergers and other transactions; making provision for mergers and other transactions with Federal savings banks; and repealing certain provisions.