Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-224. Orders by department; hearings

(a) The department may by written order under seal of the department direct an association to discontinue any violation of law or regulation or any unsafe or unsound business practice within such period as shall be specified in the order.

(b) If any director, officer, attorney or employe continues to violate the law or conduct the business of an association in an unsafe or unsound manner after having been warned by the department to discontinue such violations of law or such unsafe or unsound business practices, the department may issue a written order under seal of the department directing such director, officer, attorney or employe to appear on the date fixed in such order before the department and show cause why he should not be removed from his office or position.

(c) A copy of such order shall be sent to the association of which such person is a director, officer, attorney or employe.

(d) On the day fixed in the department's order, such director, officer, attorney or employe shall be heard in person or by counsel. The hearing shall be closed to the public unless the department determines that the public interest requires that the hearing be open to the public.

(e) If the director, officer, attorney or employe does not appear on the day fixed in the department's order, or if, after hearing, the department determines that such director, officer, attorney or employe is guilty of a violation of law or an unsafe or unsound business practice and should be removed from his office or position, the department shall, within sixty days of such hearing, issue an order directing the association to remove such person from his office or position and declare such office or position vacant. A copy of such order shall be sent to the director, officer, attorney or employe so removed. The department shall specify in its order the date upon which any such removal and declaration of vacancy shall become effective.

(f) If the person ordered by the department to appear is a director, officer, attorney or employe of an association which is a member of the Federal Home Loan Bank System or is insured by the Federal Savings and Loan Insurance Corporation, the department may advise the Federal Home Loan Bank or the Federal Savings and Loan Insurance Corporation of its order directing the appearance of such person before the department and of the decision of the department.

(g) In connection with any hearing or investigation, the department shall have power to issue subpoenas requiring the attendance of or the production of pertinent books and papers by any person, including the officers, directors, agents, employes or members of any association. The department may, upon application of the director, officer, attorney or employe to be heard, subpoena such witnesses as are set forth in such application. The department shall have the power to question such witnesses under oath or affirmation and to examine such books and papers.

(h) Any witness who refuses to obey a subpoena issued under this section or who refuses to be sworn or affirmed or to testify or who is guilty of any contempt after summons to appear may be punished as for contempt of court, and for this purpose an application may be made to any court of common pleas within whose territorial jurisdiction the offense was committed, for which purpose such court is hereby given jurisdiction.

(i) Except as herein otherwise specifically provided, the proceedings of the department and its decisions may be published at the discretion of the department.

(j) A director, officer, attorney or employe who is removed from his office or position as provided in this article and as provided in section 506  1 shall thereafter be disqualified from acting as a director, officer, attorney or employe of any association or any insured depository institution in this Commonwealth for such period as the department shall prescribe.