71 Pa. Stat. § 733-1113-A

Current through P.A. Acts 2024-18
Section 733-1113-A - Fund
(a) Continuation.--The Banking Department Fund is redesignated as the Banking Fund.
(b) Sources.--The sources of the fund are as follows:
(1) Money collected or received by the department arising from:
(i) fees, assessments, charges and penalties relating to the regulation of associations, credit unions, institutions and licensees;
(ii) the sale by the Department of General Services of unserviceable property originally paid for out of the fund; and
(iii) similar sources.
(2) The sources of the fund shall not include fees, assessments, charges and penalties generated from:
(i) the act of December 5, 1972 (P.L.1280, No.284), known as the Pennsylvania Securities Act of 1972; or
(ii) the act of March 3, 1976 (P.L.42, No.19), known as the Takeover Disclosure Law.
(c) Use.--The fund shall be used by the department to pay its expenses, including the following:
(1) Salaries of the secretary, the deputies, the examiners, the other employees of the department and attorneys.
(2) Rental and other expenses for offices, rooms, garage space and other accommodations, regardless of the municipality in which they are located, occupied by the department. This paragraph excludes offices, rooms, garage space and accommodations in the Capitol Complex.
(3) Premiums for workers' compensation insurance covering the officers and employees of the department.
(4) Premiums for surety bonds for officers and employees of the department required by law to furnish the bonds.
(5) Furniture, stationery, materials, supplies and overhead expenses of the department.
(d) Department of General Services.--Purchases and leases under subsection (c) shall be made through the Department of General Services, as agent. Contracts of insurance and surety bonds under subsection (c) shall be placed through the Department of General Services, as agent.
(e) Restrictions on appropriations.--
(1) For fiscal years beginning after June 30, 1995, and ending before July 1, 2012, the General Assembly shall appropriate funds as it determines to be necessary from the fund for use by the department or other Commonwealth agencies.
(2) For fiscal years beginning after June 30, 2012, the General Assembly shall appropriate the funds as it determines to be necessary from the fund for use only by the department and not for any other Commonwealth agency.
(f) Warrant.--Money in the fund appropriated to the department shall be paid out upon warrant of the State Treasurer drawn after requested by the secretary.
(g) Institution Resolution Account.--
(1) The Institution Resolution Account is established as a restricted account within the fund.
(2) The sources of the account are as follows:
(i) An amount determined by the secretary each fiscal year based upon economic and regulatory conditions from assessments, fees and administrative penalties generated from statutes administered by the department other than:
(A) the act of December 5, 1972 (P.L.1280, No.284), known as the Pennsylvania Securities Act of 1972; or
(B) t he act of March 3, 1976 (P.L.42, No.19), known as the Takeover Disclosure Law .
(ii) Amounts received from court litigation involving the department.
(3) The secretary may use the money in the account to pay for costs associated with any of the following:
(i) Resolution of an institution or an association, under Article X. Money under this subparagraph may be used in lieu of paying expenses from the assets of an institution or association under section 1006.
(ii) Seizure and liquidation of a credit union under 17 Pa.C.S. § 503 (relating to regulation by department).

71 P.S. § 733-1113-A

Added by P.L. 814 2012 No. 86, § 6, eff. 10/1/2012.