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Current as of January 01, 2022 | Updated by FindLaw Staff
(a) The name of an association:
(1) May be in any language but shall be expressed in English letters or characters,
(2) It shall contain the words “savings association,” “savings and loan association” or “building and loan association.”
(3) The name of the association shall not contain the words “trust,” “bank,” “deposit,” “discount” or any other words which may deceptively lead to the conclusion that it is authorized to perform any act or conduct any business which is forbidden to it by law, its articles or otherwise. The name of the association shall not contain the words “Government,” “Official,” “Federal,” “National,” “United States,” or “insured.”
(4) The name of an association shall not be the same as, or deceptively similar to, that of any other corporation authorized to transact business in this Commonwealth.
(b) An association may without regard to the provisions of subsection (a) of this section use:
(1) Its name legally in use on the effective date of this act, or
(2) A name legally in use on the effective date of this act by another association which is adopted by the resulting association in a plan of merger or consolidation to which the association using the name is a party.
(c) The Department of State shall not approve as a corporate name or register as a fictitious name, any name which would violate the provisions of this section.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-41. Names permitted to be used - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-7-ps-banks-and-banking/pa-st-sect-7-6020-41/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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