Pennsylvania Code
Title 10 - BANKING AND SECURITIES
Part III - Savings Association Bureau
Chapter 37 - SERVICE CORPORATIONS
Section 37.2 - Maximum investment authorized
Universal Citation: 10 PA Code ยง 37.2
Current through Register Vol. 54, No. 12, March 23, 2024
(a) An association shall not have an aggregate outstanding investment in the capital stock, securities or obligations of a service corporation, the cost of which exceeds 1.0% of the assets of the association at the time of acquisition of such stock, securities or obligations.
(b) No one association shall own more than 10% of the capital stock of such a service corporation, without the prior written approval of the Department.
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