Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-211. Foreign corporations

(a) Except as provided in section 114,  1 foreign corporations shall not transact the business of an association within this Commonwealth, nor maintain an office within this Commonwealth for the purpose of transacting such business. It shall be unlawful for any person to engage in the business of soliciting or receiving within this Commonwealth subscriptions to the shares or savings accounts of such corporations or payments therefor, or of granting loans within this Commonwealth on behalf of such corporations, or of soliciting applications therefor, or of receiving within this Commonwealth on behalf of such corporations, interest, premiums, fees or payments of any kind or of transacting business in any manner within this Commonwealth on behalf of such corporation. Nothing in this section shall prohibit a bona fide mortgage or loan subsidiary of a foreign association from conducting its business in this Commonwealth.

(b) A violation of this section shall be subject to the penalty provisions of this act.