Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-3. Declaration of purposes; standard for exercise of power and discretion by department

(1) The safe and sound conduct of the business of associations subject to this act,

(2) The conservation of their assets,

(3) The maintenance of public confidence in them,

(4) The protection of the interests of the owners of savings accounts, creditors and of the interest of the public in the soundness and preservation of the savings and loan system,

(5) The opportunity for associations subject to this act to remain competitive with each other, with financial organizations existing under other laws of this Commonwealth, and with savings and financial organizations existing under the laws of other states, the United States and foreign countries,

(6) The opportunity for associations subject to this act to serve effectively the convenience and needs of owners of savings accounts, borrowers and other customers, to participate in and promote the economic progress of Pennsylvania and the United States and to improve and expand their services and facilities for those purposes,

(7) The opportunity for managements of associations to exercise business judgment, subject to the provisions of this act, in conducting the affairs of associations, to the extent compatible with, and subject to, the purposes recited in the preceding clauses of this subsection (a),

(8) A delegation to the department of adequate rule-making power and administrative discretion, subject to the provisions of this act and to the purposes stated in this subsection (a), in order that the supervision and regulation of associations subject to this act may be flexible and readily responsive to changes in economic conditions and to changes in savings and loan practices, and

(9) Simplification and modernization of the law governing savings associations.