Section 514. Bonds and Suretyship
A savings bank may in the ordinary course of its business:
(a) Bonds for transactions of goods--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;
(b) Guarantees for items for collection--give guarantees in connection with the receipt and forwarding of items for collection;
(c) Guarantees for securities--give guarantees in connection with the transfer, exchange and collection of securities; and
(d) Miscellaneous guarantees--give such other guarantees as the department may from time to time approve.
(514 added July 6, 1984, P.L.606, No.125)