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 parts 201 and 202 of this 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 utilized in this section and В§ В§ 13.6213.68, have actually the meanings that are following unless the context demonstrably shows otherwise:
(i) A bank, bank and trust business, trust business and cost cost cost savings bank, chartered beneath the guidelines associated with Commonwealth.
(ii) A nationwide bank.
(iii) A bank, bank and trust business, trust business and cost cost savings bank that will be perhaps perhaps not controlled by the workplace of Thrift Supervision, chartered beneath the rules of some other state or territory regarding the united states of america.
Restricted function banking office an workplace of a banking organization which executes activities that are limited like those in В§ 13.63 (associated with permissible tasks), with respect to the banking organization but which will not:
(i) Accept or shell out deposits.
(iv) Accept or administer virtually any reports, including trust or any 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 for the united states of america other than the Commonwealth.
Pennsylvania banking organization A banking institution chartered beneath the statutory legislation associated with Commonwealth.
This part cited in 10 Pa. Code В§ 13.62 (associated with application); 10 Pa. Code В§ 13.63 (associated with activities that are permissible; 10 Pa. Code В§ 13.65 (associated with information needed); 10 Pa. Code В§ 13.66 (associated with designation being a restricted function banking workplace); and 10 Pa. Code В§ 13.67 (associated with authority of this Department).
В§ 13.62. Application.
Parts 13.61, 13.13.68 and also this area address restricted purpose banking workplaces based in this Commonwealth that are founded by Commonwealth and non-Pennsylvania financial institutions, as defined in В§ 13.61 (relating to definitions). In addition, these parts address Pennsylvania financial institutions finding limited function banking workplaces various other states. The establishment and upkeep of a small function banking office based in this Commonwealth by way of a non-Pennsylvania banking organization together with establishment an additional state of a small function banking office by way of a Pennsylvania banking organization might not be in violation of, or perhaps as opposed to, the laws and regulations for the other appropriate state.
This part cited in 10 Pa. Code В§ 13.61 (associated with definitions); 10 Pa. Code В§ 13.63 (concerning activities that are permissible; 10 Pa. Code В§ 13.65 (associated with information needed); 10 Pa. Code В§ 13.66 (concerning designation as being a purpose that is limited workplace); and 10 Pa. Code В§ 13.67 (concerning authority for the Department).
В§ 13.63. Permissible tasks.
(a) the next tasks might be carried out at a small function banking workplace of a banking organization, if, in circumstances where another state is included, the performance for the tasks during the restricted function banking workplace will not break, and it is perhaps perhaps maybe not otherwise contrary to, the rules of this other appropriate state:
(1) Loan manufacturing workplace tasks, including:
(i) Soliciting loans, and, in connection therewith, assembling credit information.
(ii) Making home inspections and appraisals.
(iii) Securing name information.
(iv) organizing applications for loans, including making tips with respect to action thereon.
(v) Soliciting investors to get loans through the banking organization.
(vi) trying to have the investors contract because of the banking organization for the servicing for the loans.
(vii) participating in other agent-type that is similar.
(2) Representative workplace tasks, including: representational functions, such as for example soliciting banking and trust business, advertising services or acting as a liaison with clients with respect to the banking organization:
(i) A banking organization may just obtain fiduciary company or other kinds of trust company in the restricted function banking workplace in the event that banking organization is authorized to take part in fiduciary and trust tasks under its legislation of incorporation.
(ii) A banking organization which can be chartered by or perhaps is headquartered in a situation apart from this Commonwealth may well not behave as a fiduciary or establish a workplace to conduct a fiduciary company in this Commonwealth, beyond those activities allowed and also this part, in contradiction of part 106(b) of this work (7 P. S. В§ 106(b)).
(3) Clerical, straight right right right back workplace sort of tasks associated with the banking organization.
(4) Administrative tasks linked to the premises or workers associated with restricted purpose banking workplace.
(5) Other activities that are similar susceptible to the Department written nonobjection.
(b) those activities in subsection (a)(1) represent those tasks that might be carried out by that loan manufacturing workplace, under part 102 (h)(v) associated with the work (7 P. S. В§ 102(h)(v)), and tend to be in line with the laws regarding the Federal Reserve Board in 12 CFR 250.141 (h) (concerning user bank purchase of stock.
This area cited in 10 Pa. Code В§ 13.61 (associated with definitions); 10 Pa. Code В§ 13.62 (associated with application); 10 Pa. Code В§ 13.63 (concerning activities that are permissible; 10 Pa. Code В§ 13.65 (associated with information needed); 10 Pa. Code В§ 13.66 (associated with designation bad credit payday loans Lithonia being a purpose that is limited workplace); and 10 Pa. Code В§ 13.67 (associated with authority regarding the Department).