Actions by shareholders or members to enforce a secondary right.

15 Pa.C.S. § 523
in effect
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(a) General rule.--A banking institution shall be governed by the provisions of Subchapter F of Chapter 17 (relating to derivative actions). (b) Security for costs.--(Deleted by amendment). (c) Definitions.--When applying the provisions of Subchapter F of Chapter 17, the following words and phrases shall have the meanings given to them in this subsection: "Director." Includes any individual performing the function of director, regardless of title. "Member." Includes depositors in a mutual banking institution. "Shares." Includes outstanding contracts or accounts of members in a mutual banking institution. (Dec. 19, 1990, P.L.834, No.198, eff. imd.; Nov. 21, 2016, P.L.1328, No.170, eff. 90 days; Nov. 3, 2022, P.L.1791, No.122, eff. 60 days)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM&ttl=15Fetched: 10/16/2026

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