EXCLUSION TO CONCEPT OF BRANCH STATEMENT OF POLICY

EXCLUSION TO CONCEPT OF BRANCH STATEMENT OF POLICY

The conditions among these В§ В§ 13.68 issued under parts 102 and 103 regarding the Banking Code of 1965 (7 P. S. В§ В§ 102 and 103); and sections 201 and 202 regarding the Department of Banking and Securities Code (71 P. S. В§ В§ 733-201 and 733-202), unless otherwise noted.

The conditions among these В§ that is used, effective, 26 Pa.B. 5989, unless otherwise noted.

В§ 13.61. Definitions.

The after terms and terms, whenever found in this section and В§ В§ 13.6213.68, have actually the meanings that are following unless the context obviously shows otherwise:

(i) A bank, bank and trust business, trust business and cost savings bank, chartered underneath the legislation regarding the Commonwealth.

(ii) A nationwide bank.

(iii) A bank, bank and trust business, trust business and cost savings bank which will be perhaps maybe maybe not managed because of the workplace of Thrift Supervision, chartered underneath the regulations of some other state or territory associated with united states of america.

Restricted function banking workplace an workplace of a banking organization which carries out restricted tasks, like those in В§ 13.63 (associated with permissible tasks), with respect to the banking organization but which will not:

(i) Accept or spend deposits.

(iv) Accept or administer virtually any reports, including trust or other fiduciary records.

Non-Pennsylvania banking institution A banking institution chartered beneath the legislation of this united states of america, Puerto Rico or a situation or territory of this united states of america aside from the Commonwealth. Continue reading “EXCLUSION TO CONCEPT OF BRANCH STATEMENT OF POLICY”