Pennsylvania Code & Bulletin
COMMONWEALTH OF PENNSYLVANIA

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10 Pa. Code § 13.42. Loans for carrying shares and capital securities.

§ 13.42. Loans for carrying shares and capital securities.

 To the same extent that an institution is prohibited from extending credit for the purpose of enabling a customer to acquire or hold shares or capital securities of the institution, under the provisions of section 311(e) of the act (7 P. S. §  311(e)), it may not extend credit to acquire or hold stock or capital securities of its affiliates or the corporation which owns or controls the capital stock of the institution.

Authority

   The provisions of this §  13.42 issued under section 103(a)(viii) of the Banking Code of 1965 (7 P. S. §  103(a)(viii)).

Source

   The provisions of this §  13.42 adopted August 18, 1970, effective August 19, 1970, 1 Pa.B. 213.



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