§ 1504. Revocation of authorization to do business.
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/pa/title-17/chapter-15/1504A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 1504. Revocation of authorization to do business.
The department may revoke the approval of an out-of-State credit union to conduct business as a credit union in this Commonwealth if the department makes any of the following findings:
(1)The out-of-State credit union no longer meets the requirements of section 1501 (relating to authorization to do business).
(2)The out-of-State credit union has violated Pennsylvania statutes or regulations or orders of the department.
(3)The out-of-State credit union has engaged in a pattern of unsafe or unsound credit union practices.
(4)Continued operation by the out-of-State credit union is likely to have a substantially adverse impact on the financial, economic or other interests of residents of this Commonwealth served by the out-of-State credit union.
17c1504v
(Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)