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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Criminal liability--Any person who acquires or proposes to acquire shares of an institution or of a corporation which controls an institution in violation of section 112 1 or who violates subsection (g) thereof shall be guilty of a misdemeanor and shall upon conviction thereof be subject, in the case of an individual, to imprisonment for a period not exceeding five years, or a fine not exceeding five thousand dollars ($5,000), or both, and, in the case of any other person, to a fine not exceeding fifty thousand dollars ($50,000).
(b) Civil liability--Any person who violates any provision of section 112 shall be liable to any institution or corporation or shareholder thereof damaged thereby and, in the discretion of the court, for punitive damages. The provisions of section 112 shall be enforceable in any action or suit instituted by the department or by any such institution, corporation or shareholder to enjoin or restrain any violation or threatened violation of that section.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 7 P.S. Banks and Banking § 2105. Penalties applicable to persons for violation of section 112 - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-7-ps-banks-and-banking/pa-st-sect-7-2105/
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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