Pennsylvania Code
Title 10 - BANKING AND SECURITIES
Part III - Savings Association Bureau
Chapter 37 - SERVICE CORPORATIONS
Section 37.1 - Service corporations generally
Universal Citation: 10 PA Code ยง 37.1
Current through Register Vol. 54, No. 12, March 23, 2024
(a) A service corporation shall be incorporated under the laws of the Commonwealth and the entire capital stock shall be available for purchase by, or be transferable to, only:
(1) Associations organized and existing under
the laws of the Commonwealth.
(2)
Federal savings and loan associations having their home offices in this
Commonwealth.
(b) The activities of a service corporation shall consist of originating, purchasing, selling and servicing loans upon real estate and participating interests therein, or performing clerical, bookkeeping, accounting, statistical, or similar functions primarily for associations and Federal savings and loan associations.
This section cited in 10 Pa. Code § 37.5 (relating to special service corporations).
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