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Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-185. Advertisement

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The Savings Association Code of 1967, 7 P.S. §§ 6020-1 to 6020-254, has been repealed by Act 2013, June 24, P.L. 67, No. 23, §§ 1 to 107, effective in one year [June 24, 2014], but remains in full force and effect as to transactions and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

(a) The association shall advertise its intention to deliver, or the delivery of articles of merger, consolidation or conversion, once in each newspaper in which advertisement is required to be published in accordance with section 107  1 of this act and file proof of advertisement with the department.

(b) The advertisement shall appear prior to, or within seven days after, the date of delivery of the articles to the department and shall set forth briefly:

(1) The name and county of the principal place of business of each of the associations or Federal savings and loan associations or savings banks intending to merge, consolidate or convert,

(2) The name and county of the place of business of the new, resulting or converted association or savings bank,

(3) A statement that the articles of merger, consolidation or conversion are to be filed under the provisions of this act if such merger, consolidation or conversion results in an association subject to the provisions of this act, or if the articles provide for a conversion from a Federal savings and loan association to an association subject to the provisions of this act. If the resulting corporation is a savings bank subject to the Banking Code of 1965 as amended,  2 a statement to this effect shall be contained in the advertisement,

(4) The purpose or purposes of the resulting, new or converted association or savings bank.

1 7 P.S. § 6020-7.
2 7 P.S. § 101 et seq.
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Cite this article: FindLaw.com - Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-185. Advertisement - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-7-ps-banks-and-banking/pa-st-sect-7-6020-185/

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