Pennsylvania § 1503 - Supervision by department.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 1503 — Supervision by department., with citation guidance and answers to common questions.
§ 1503. Supervision by department.
(a) General rule.--The department may examine an out-of-State credit union:
(1) to the same extent that a Pennsylvania credit union is examined by the regulatory agency with jurisdiction over credit unions in the state in which the out-of-State credit union is incorporated; or
(2) pursuant to an agreement between the department and the regulatory agency with jurisdiction over credit unions in the state in which the out-of-State credit union is incorporated.
(b) Reports of other examinations.--The department may require, as a condition for permitting an out-of-State credit union to operate or to continue to operate in this Commonwealth, that the regulatory agency with jurisdiction over the out-of-State credit union furnish reports of examination regarding the out-of-State credit union to the department.
(Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)
2002 Amendment. Act 207 amended the section heading and subsec. (a).
Frequently Asked Questions About Pennsylvania § 1503
What does Pennsylvania Consolidated Statutes § 1503 cover?
Section 1503 ("Supervision by department.") 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 § 1503?
A common citation format is "Pennsylvania Consolidated Statutes § 1503" (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 § 1503 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.