Section 313. Bonds and Suretyship
(a) An institution may in the ordinary course of its banking business:
(i) give its bond, either alone or as surety for another, in connection with any bona fide transaction involving the import, export or domestic shipment of goods,
(ii) give guarantees in connection with the receipt and forwarding of items for collection,
(iii) give guarantees in connection with the transfer, exchange and collection of securities, and
(iv) give such other guarantees as the department may from time to time by regulation approve.
((a) amended July 23, 1970, P.L.597, No.199)
(b) Except as provided in subsection (a) of this section or as otherwise specifically provided by this act, an institution may not act as surety or give any bond or guarantee.