Section 1504 - Revocation of authorization to do businessThe department may revoke the approval of an out-of-State credit union to conduct business as a credit union in this Commonwealth if the department makes any of the following findings:
(1) The out-of-State credit union no longer meets the requirements of section 1501 (relating to authorization to do business).(2) The out-of-State credit union has violated Pennsylvania statutes or regulations or orders of the department.(3) The out-of-State credit union has engaged in a pattern of unsafe or unsound credit union practices.(4) Continued operation by the out-of-State credit union is likely to have a substantially adverse impact on the financial, economic or other interests of residents of this Commonwealth served by the out-of-State credit union.1990, Dec. 19, P.L. 834, No. 198, § 302, effective in two months. Amended 2002, Dec. 9, P.L. 1572, No. 207, § 13, effective in 60 days.