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Revocation of authorization to do business - 17 Pa. Cons. Stat. § 1504

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     § 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.
     (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)

Last modified: November 27, 2007