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Current as of January 01, 2025 | Updated by Findlaw Staff
The department may revoke the approval of an out-of-State credit union to conduct business as a credit union in this Commonwealth if the department makes any of the following findings:
(1) The out-of-State credit union no longer meets the requirements of section 1501 (relating to authorization to do business).
(2) The out-of-State credit union has violated Pennsylvania statutes or regulations or orders of the department.
(3) The out-of-State credit union has engaged in a pattern of unsafe or unsound credit union practices.
(4) Continued operation by the out-of-State credit union is likely to have a substantially adverse impact on the financial, economic or other interests of residents of this Commonwealth served by the out-of-State credit union.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 17 Pa.C.S.A. Credit Unions § 1504. Revocation of authorization to do business - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-17-pacsa-credit-unions/pa-csa-sect-17-1504/
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