Section 1403 - Number, qualifications and eligibility of directors or trustees(a) Number--The by-laws may fix the number of trustees of a savings bank at not less than five. The by-laws of any other institution may fix the number of directors at not less than five or more than twenty-five and may provide that the board may, within such limitation, increase the number of directors by not more than two in any one year.(b) Qualifications--Each director or trustee shall be a citizen of the United States except that the department may waive the requirement of citizenship for one or more directors or trustees by written approval imposing any conditions which it may deem appropriate, including, but not limited to, consent to service of process.(c) Ineligibility--No individual may be a director or trustee who is at the same time:(i) A judge of a court of record in this Commonwealth, except a trustee of a savings bank, or a person lawfully serving as director of an institution at the time he becomes judge, or a director of a resulting institution who was lawfully serving as director of a party to a merger, consolidation, or conversion,(ii) The holder of an office in the Department of Banking, the Treasury Department , the Auditor General's Department or the Department of Revenue of this Commonwealth, except a trustee of a savings bank, or a person lawfully serving as director of an institution at the time he becomes Auditor General ,(iii) In the case of a trustee of a savings bank, an officer, employe or trustee of another savings bank,(iv) An auditor conducting any audit of the institution provided for in section 1407 or otherwise under the laws of this Commonwealth, or(v)An auditor or examiner with the Office of Comptroller of the Currency, Federal Deposit Insurance Corporation, Consumer Financial Protection Bureau, or a Federal Reserve Bank, who has responsibility for any safety and soundness examination, Bank Secrecy Act examination or consumer compliance examination of any institution subject to this act.(d) Authorization--Subject to the provisions of this act: (i) No more than two trustees of a savings bank may serve at the same time as directors of a trust company which does not make real estate mortgage loans and does not accept savings deposits from persons.(ii) No more than two directors of a trust company which does not make real estate mortgage loans and does not accept savings deposits from persons may serve at the same time as trustees of a savings bank.Amended by P.L. 1336 2012 No. 170, § 41.1, eff. 12/23/2012.1965, Nov. 30, P.L. 847, No. 356, § 1403. Amended 1975, July 30, P.L. 108, No. 56, § 3, imd. effective; 1982, April 8, P.L. 262, No. 79, § 14, imd. effective; 1988, Dec. 21, P.L. 1416, No. 173, § 11, effective in 30 days; 1992, July 9, P.L. 430, No. 90, § 4, effective in 30 days; 1995, July 6, P.L. 271, No. 39, § 11, imd. effective.