10 Pa. Code § 37.1 - Service corporations generally
(a) A service corporation shall be
incorporated under the laws of the Commonwealth and the entire capital stock
shall be available for purchase by, or be transferable to, only:
(1) Associations organized and existing under
the laws of the Commonwealth.
(2)
Federal savings and loan associations having their home offices in this
Commonwealth.
(b) The
activities of a service corporation shall consist of originating, purchasing,
selling and servicing loans upon real estate and participating interests
therein, or performing clerical, bookkeeping, accounting, statistical, or
similar functions primarily for associations and Federal savings and loan
associations.
Notes
This section cited in 10 Pa. Code § 37.5 (relating to special service corporations).
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