Section 1602. Banking Supervisory Powers.--The Department of Banking and Securities shall have supervision over: (Intro. par. amended July 9, 2021, P.L.377, No.70)
(a) All corporations, now or hereafter incorporated under the laws of this or any other State, and authorized to transact business in this State, which have power to receive, or are receiving, money on deposit, or for safekeeping, otherwise than as bailees, including all banks, banking companies, cooperative banking associations, trust, safe deposit, real estate, mortgage, title insurance, guaranty, surety and indemnity companies, savings institutions, savings banks and provident institutions;
(b) Mutual savings funds, building and loan associations, and corporations doing a safe deposit business only;
(c) All national banking associations located within this State, now or hereafter incorporated under the laws of the United States, which shall, in pursuance of Federal law or regulation, be granted a permit to act, or shall act, as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of insane persons, or in any other fiduciary capacity;
(d) All unincorporated banks, except such as are or shall be exempt by law, and all such individuals, partnerships, and unincorporated associations, as now are, or shall be, by law made subject to the supervision of the department, and any individuals or associations of individuals doing the business of cooperative banks, or of building and loan associations, or a business in the nature of either, whether under the guise of a deed of trust or otherwise.
Compiler's Note: See section 18.1 of Act 70 of 2021 in the appendix to this act for special provisions relating to continuation of prior law.