Senate Bill 432 Printer's Number 617

PENNSYLVANIA, May 14 - PRIOR PRINTER'S NO. 452

PRINTER'S NO. 617

THE GENERAL ASSEMBLY OF PENNSYLVANIA

SENATE BILL

No.

432

Session of

2021

INTRODUCED BY LAUGHLIN, STEFANO, J. WARD AND BAKER,

MARCH 18, 2021

SENATOR DiSANTO, BANKING AND INSURANCE, IN SENATE, AS AMENDED,

APRIL 19, 2021

AN ACT

Amending the act of May 15, 1933 (P.L.565, No.111), entitled "An

act relating to the powers and duties of the Department of

Banking and Securities and the Secretary of Banking and

Securities in exercising supervision over, and taking

possession of and conducting or liquidating the business and

property of, corporations, associations, and persons

receiving deposits or otherwise transacting a banking

business, corporations acting as fiduciaries, and building

and loan associations; providing for the payment of the

expenses of the Department of Banking by supervised

corporations, associations, or persons, and appropriating the

Banking Department Fund; authorizing the Department of

Banking, under certain circumstances, to examine

corporations, associations, or persons affiliated, or having

business transactions with supervised corporations,

associations or persons; authorizing appeals to the Supreme

Court, and prescribing and limiting the powers and duties of

certain other courts and their prothonotaries, registers of

wills, recorders of deeds, and certain State departments,

commissions, and officers; authorizing certain local public

officers and State departments to collect fees for services

rendered under this act; regulating securities; providing

penalties; and repealing certain acts and parts of acts," in

banking and securities, further providing for fund.

The General Assembly of the Commonwealth of Pennsylvania

hereby enacts as follows:

Section 1. Section 1113-A of the act of May 15, 1933

(P.L.565, No.111), known as the Department of Banking and