Section 13.13. Guarantees

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Institutions, subject to the prior approval of the Department, may give guarantees in connection with transactions providing for the sale or sale and repurchase of an institution’s outstanding securities portfolio or in connection with borrowings by the institution, secured by the institution’s outstanding securities portfolio.

The provisions of this § 13.13 adopted September 30, 1983, effective October 1, 1983, 13 Pa.B. 2967.

Notation

Authority

The provisions of this § 13.13 issued under sections 313(a)(iv) and 502(f) of the Banking Code of 1965 (7 P. S. § § 313(a)(iv) and 502(f)).

                    
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