10 Pa. Code § 13.65 - Information required

(a) A banking institution seeking to establish and maintain a limited purpose banking office under §§ 13.61-13.64, 13.66-13.68 and this section shall submit a prior notice to the Department's Manager of Corporate Applications in letter form. The Department may object to the establishment and maintenance of a limited purpose banking office within 20 business days of receiving the notice. If the Department objects to the notice, the banking institution may not establish or maintain the limited purpose banking office until the Department approves the action. The following information shall be included in the notice required under this section:

(1) The name and address of the principal office of the banking institution.

(2) The exact address and telephone number of the limited purpose banking office to be established.

(3) The name of the banking institution's officer responsible for the activities of the limited purpose banking office.

(4) A complete description of the activities to be performed at the proposed limited purpose banking office.

(5) With respect to a non-Pennsylvania banking institution seeking to establish a limited purpose banking office in this Commonwealth or a Pennsylvania banking institution seeking to establish a limited purpose banking office in another state, a legal opinion providing that the establishment and maintenance of the proposed limited purpose banking office does not violate, and is not otherwise contrary to, the laws of the other relevant state, including reference to the applicable statutory or regulatory authority, or both, of the other state.

(6) A statement providing that the banking institution has obtained the regulatory approvals required to establish and maintain the proposed limited purpose banking office.

(7) Other information which is deemed necessary by the Department.

(b) Changes in the information submitted to the Department shall be promptly reported to the Department.

Notes

10 Pa. Code § 13.65

This section cited in 10 Pa. Code § 13.61 (relating to definitions); 10 Pa. Code § 13.62 (relating to application); 10 Pa. Code § 13.63 (relating to permissible activities); 10 Pa. Code § 13.66 (relating to designation as a limited purpose banking office); and 10 Pa. Code § 13.67 (relating to authority of the Department).