Pennsylvania § 361 - Division authorized.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 361 — Division authorized., with citation guidance and answers to common questions.
§ 361. Division authorized.
(a) Domestic entities.--Except as provided in section 318 (relating to excluded entities and transactions) or this section, by complying with this subchapter, a domestic entity may divide into:
(1) the dividing association and one or more new associations that are either domestic entities or foreign associations; or
(2) two or more new associations that are either domestic entities or foreign associations.
(b) Foreign associations.--
(1) A foreign association may be created by the division of a domestic entity only if the division is authorized by the laws of the jurisdiction of formation of the foreign association.
(2) If the division is authorized by the laws of the jurisdiction of formation of the foreign association, one or more of the resulting associations created in a division of a foreign association may be a domestic entity.
(c) Exception.--A domestic banking institution that is a domestic entity may be a dividing association only if all of the resulting associations are domestic banking institutions.
(d) Cross reference.--See section 314 (relating to regulatory conditions and required notices and approvals).
Frequently Asked Questions About Pennsylvania § 361
What does Pennsylvania Consolidated Statutes § 361 cover?
Section 361 ("Division authorized.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 361?
A common citation format is "Pennsylvania Consolidated Statutes § 361" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 361 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.