10 Pa. Code § 37.1. Service corporations generally.

§ 37.1. Service corporations generally.

(a)  A service corporation shall be incorporated under the laws of the Commonwealth and the entire capital stock shall be available for purchase by, or be transferable to, only:
   (1)  Associations organized and existing under the laws of the Commonwealth.
   (2)  Federal savings and loan associations having their home offices in this Commonwealth.
(b)  The activities of a service corporation shall consist of originating, purchasing, selling and servicing loans upon real estate and participating interests therein, or performing clerical, bookkeeping, accounting, statistical, or similar functions primarily for associations and Federal savings and loan associations.

Cross References

   This section cited in 10 Pa. Code §  37.5 (relating to special service corporations).

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