Section 402. Examination of Corporations or Persons Affiliated with Institutions.--The department shall have the power to supervise, regulate, examine, limit, or prohibit the activities of corporations or persons that are subsidiaries of or are affiliated with institutions, including credit unions, to the same extent as such activities of corporations or persons that are subsidiaries of or are affiliated with national banking associations, Federal savings associations or Federal credit unions, or with members of a Federal Reserve Bank, are, or shall be, supervised, regulated, examined, limited, or prohibited by general law, by Federal statutes or by regulations issued by any Federal authority pursuant to law, but in no event shall the department's examination and enforcement authority over subsidiaries and affiliates be less than is permissible for banking institutions under the act of November 30, 1965 (P.L.847, No.356), known as the "Banking Code of 1965," savings associations under the act of December 14, 1967 (P.L.746, No.345), known as the "Savings Association Code of 1967," or credit unions under 17 Pa.C.S. (relating to credit unions).
(402 amended Oct. 24, 2012, P.L.1396, No.171)
Compiler's Note: Section 1602(b)(1) of Act 345 of 1967 provided that section 402 B is repealed insofar as it is applicable to savings associations, savings and loan associations and building and loan associations.
Compiler's Note: Section 2202 of Act 356 of 1965 provided that section 402 B is repealed as to banks, bank and trust companies, trust companies, savings banks, private banks and employes' mutual banking associations.