Number and qualifications of incorporators - 17 Pa. Cons. Stat. § 302
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Pennsylvania Statutes
§ 302. Number and qualifications of incorporators.
(a) General rule.--A credit union may be incorporated
pursuant to the provisions of this title by seven or more
incorporators. Such incorporators shall be natural persons of
full age, the majority of whom are residents of this
Commonwealth and who have a common bond of association as
provided in section 701 (relating to membership).
(b) Central or corporate credit unions.--A central or
corporate credit union may be incorporated, pursuant to the
provisions of this title, by 15 or more credit unions chartered
under the laws of the United States or of any state, which have
agreed to purchase shares in the credit union in amounts not
less than the minimum specified in the bylaws.
Section: 101 102 103 104 301 302 303 304 305 501 502 503 504 505 506
Last modified: November 27, 2007
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