Section 29.3. Borrowings from affiliates

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Borrowings by an institution owned or controlled by a bank holding company from the bank holding company and other bank or nonbank subsidiaries of the bank holding company does not constitute borrowing of money. The borrowings shall be made in conformance with a written policy established by the bank holding company governing the financial planning of the bank holding company and its subsidiaries.

The provisions of this § 29.3 adopted November 2, 1990, effective November 3, 1990, 20 Pa.B. 5533.

                    
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