Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6040-2. Definitions

(1) “Corporation” means a corporation which may be formed under this act.

(2) “Financial institution” means any national banking association, State-chartered bank, bank and trust company, savings bank, or private bank, Federal savings and loan association, State-chartered building and loan association or credit union, or any stock insurance company, including any stock life or limited life, stock fire, stock marine, stock fire and marine, or stock casualty company, any mutual insurance company, including any mutual life or limited life company or any surety company, title insurance company, Lloyds association, or inter-insurance exchange, which is authorized by law to transact the business of insurance in Pennsylvania.

(3) “Lending agreement” means an agreement between a corporation and any financial institution, under which agreement such financial institution agrees to lend funds to the corporation in accordance with the provisions of section 6  1 of this act.

(4) “Shareholder” means a registered owner of shares in a corporation formed under this act.

(5) “Shares” are the units into which the shareholders' rights to participate in the control of a corporation, in its surplus or profits, or in the distribution of its assets are divided.