Section 17.6. Banking names

(a) Section 805(d) of the Banking Code (7 P. S. § 805(d)) requires that the Department refuse to approve as a corporate name or to register as a fictitious name a name which has the following characteristics:

(1) Is deceptively similar to the name of an institution subject to the Banking Code.

(2) Contains the words ‘‘bank,’’ ‘‘banking,’’ ‘‘banker’’ or ‘‘trust’’ or the plural of these words, except when the filing is tendered on behalf of one of the following:

(i) An institution subject to the Banking Code.

(ii) A Federal Reserve Bank.

(iii) A National bank.

(iv) A Federal Intermediate Credit Bank, Federal Land Bank, Federal Home Loan Bank or a Bank for Cooperatives.

(v) The International Bank for Reconstruction and Development.

(vi) The Inter-American Development Bank.

(vii) A Pennsylvania bank holding company.

(b) Section 1303(c)(ii) of the BCL (relating to corporate name) provides that the name of a business corporation may not imply that the corporation is a bank, bank and trust company, savings bank, private bank or trust company, as defined in the Banking Code of 1965, unless the corporation or proposed corporation is a Pennsylvania bank holding company or is otherwise authorized by statute to use its proposed name. See section 116 of the Banking Code of 1965 (7 P. S. § 116).

(c) Section 5303(c)(ii) of the NPCL (relating to corporate name) provides that the name of a nonprofit corporation may not imply that the corporation is a bank, bank and trust company, savings bank, private bank or trust company, as defined in the Banking Code of 1965.

(d) In 54 Pa.C.S. § 311(f)(3) (relating to registration) it is provided that a fictitious name may not contain words implying that the registered entity is a bank, bank and trust company, savings bank, private bank or trust company, as defined in the Banking Code of 1965, unless approved by the Department of Banking.

The provisions of this § 17.6 adopted June 22, 1973, effective June 23, 1973, 3 Pa.B. 1164; amended April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993. Immediately preceding text appears at serial pages (87015) to (87016).

Notation

Cross References

This section cited in 19 Pa. Code § 13.14 (relating to governmental approvals); 19 Pa. Code § 17.41 (relating to foreign association names); and 19 Pa. Code § 17.204 (relating to general restrictions on name availability).