19 Pa. Code § 17.6 - Banking names
(a) Section
805(d) of the Banking Code (7 P. S. §
805(d)) requires that the
Department refuse to approve as a corporate name or to register as a fictitious
name a name which has the following characteristics:
(1) Is deceptively similar to the name of an
institution subject to the Banking Code.
(2) Contains the words "bank," "banking,"
"banker" or "trust" or the plural of these words, except when the filing is
tendered on behalf of one of the following:
(i) An institution subject to the Banking
Code.
(ii) A Federal Reserve
Bank.
(iii) A National
bank.
(iv) A Federal Intermediate
Credit Bank, Federal Land Bank, Federal Home Loan Bank or a Bank for
Cooperatives.
(v) The International
Bank for Reconstruction and Development.
(vi) The Inter-American Development
Bank.
(vii) A Pennsylvania bank
holding company.
(b) Section 1303(c)(ii) of the BCL (relating
to corporate name) provides that the name of a business corporation may not
imply that the corporation is a bank, bank and trust company, savings bank,
private bank or trust company, as defined in the Banking Code of 1965, unless
the corporation or proposed corporation is a Pennsylvania bank holding company
or is otherwise authorized by statute to use its proposed name. See section 116
of the Banking Code of 1965 (7 P. S. §
116).
(c) Section 5303(c)(ii) of the NPCL (relating
to corporate name) provides that the name of a nonprofit corporation may not
imply that the corporation is a bank, bank and trust company, savings bank,
private bank or trust company, as defined in the Banking Code of
1965.
(d) In
54 Pa.C.S. §
311(f)(3) (relating to
registration) it is provided that a fictitious name may not contain words
implying that the registered entity is a bank, bank and trust company, savings
bank, private bank or trust company, as defined in the Banking Code of 1965,
unless approved by the Department of Banking.
Notes
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