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Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-184. Action where approval by department not required

Current as of January 01, 2025 | Updated by Findlaw Staff

<The Savings Association Code of 1967, 7 P.S. §§ 6020-1 to 6020-254, has been repealed by Act 2013, June 24, P.L. 67, No. 23, §§ 1 to 107, effective in one year [June 24, 2014], but remains in full force and effect as to transactions and proceedings commenced prior to said repeal, pursuant to Act 2013-23, § 109.>

If a proposed merger, consolidation or conversion will result in a Federal savings and loan association, an association which is a party to a plan shall:

(a) Notify the department of the proposed merger, consolidation or conversion,

(b) Provide such evidence of the adoption of the plan as the department may request,

(c) Notify the department of any abandonment or disapproval of the plan,

(d) File with the department and with the Department of State a certificate of the approval of the merger or consolidation by the Federal Home Loan Bank Board or its successor which has the right on behalf of the United States to approve such mergers, consolidations or conversions into Federal savings and loan associations.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-184. Action where approval by department not required - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-7-ps-banks-and-banking/pa-st-sect-7-6020-184/

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