Pennsylvania Statutes Title 15 Pa.C.S.A. Corporations and Unincorporated Associations § 523. Actions by shareholders or members to enforce a secondary right

(a) General rule.--A banking institution shall be governed by the provisions of Subchapter F of Chapter 17 (relating to derivative actions). 1

(b) Deleted by 2022, Nov. 3, P.L. 1791, No. 122, § 26, effective in 60 days [Jan. 3, 2023].

(c) Definitions.--When applying the provisions of Subchapter F of Chapter 17, the following words and phrases shall have the meanings given to them in this subsection:

“Director.”  Includes any individual performing the function of director, regardless of title.

“Member.”  Includes depositors in a mutual banking institution.

“Shares.”  Includes outstanding contracts or accounts of members in a mutual banking institution.