Pennsylvania Code (Last Updated: April 5, 2016) |
Title 10. BANKING AND SECURITIES |
PART VII. Securities |
Subpart F. Administration |
Chapter 601. Administration |
Section 601.010. Commission quorum; action; disqualification
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(a) For the purpose of computing the quorum required for actions, determinations or dispositions by the Commission: when a single Commissioner has disqualified himself or is otherwise not available, a quorum shall consist of the two remaining Commissioners; when two Commissioners have disqualified themselves, a quorum shall consist of the single remaining Commissioner; where all three members of the Commission have disqualified themselves, a hearing examiner shall be designated by the Commission and the hearing examiners findings, conclusions and recommended order, determination or disposition shall be adopted by the Commission.
(b) Hearings shall be held before the Commission, a member or members thereof, or a Hearing Examiner as provided in this chapter; Commission action, determinations or dispositions as a result of any hearing shall be made at any meeting of the Commission at which a quorum, determined as set forth in subsection (a) is present. Where a hearing has been conducted before less than the full three-member Commission, all Commissioners not present at any such hearing shall render their decision on the basis of a review of all pleadings, briefs and other papers filed in the matter and on the basis of the transcript and exhibits produced at such hearing.
(c) Commissioners may disqualify themselves from participating in any hearing or decision thereon or in any other action, determination or disposition on grounds of prejudice and bias in a particular matter, or for other good cause.
The provisions of this § 601.010 adopted January 17, 1975, effective January 18, 1975, 5 Pa.B. 105; transferred and renumbered from 64 Pa. Code § 601.010, December 14, 2012, effective December 15, 2012, 42 Pa.B. 7533. Immediately preceding text appears at serial pages (317549) to (317650). .