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Current as of January 01, 2025 | Updated by Findlaw Staff
No loans shall be recommended or approved if the proceeds of the loan could do any of the following:
(1) Cause, aid or assist directly in the relocation of any business operations from one part of this Commonwealth to another unless there is at least a 25% net increase in employment.
(2) Refinance any portion of the total cost of a capital development project, pollution prevention infrastructure or other existing loans or debt.
(3) Finance a capital development project or pollution prevention infrastructure located outside the geographic boundaries of this Commonwealth.
(4) Provide funds, directly or directly, for payment distribution or as loan owners, partners or shareholders of a small business, except as ordinary compensation for services rendered.
(5) Provide funds for speculation in real or personal property, whether tangible or intangible.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 12 Pa.C.S.A. Commerce and Trade § 2312. Limitations - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-12-pacsa-commerce-and-trade/pa-csa-sect-12-2312/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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