4101 - Application of article.
ARTICLE D FOREIGN BUSINESS CORPORATIONS Chapter 41. Foreign Business Corporations CHAPTER 41 FOREIGN BUSINESS CORPORATIONS Subchapter A. Preliminary Provisions B. Qualification C. Powers, Duties and Liabilities D. Domestication Enactment. Chapter 41 was added December 21, 1988, P.L.1444, No.177, effective October 1, 1989. Cross References. Chapter 41 is referred to in section 1103 of this title; section 101 of Title 54 (Names). SUBCHAPTER A PRELIMINARY PROVISIONS Sec. 4101. Application of article. 4102. Foreign domiciliary corporations. 4103. Acquisition of foreign domiciliary corporation status. 4104. Termination of foreign domiciliary corporation status. § 4101. Application of article. (a) General rule.--Except as otherwise provided in this section or in subsequent provisions of this article, this article shall apply to and the words "corporation" or "foreign business corporation" in this article shall include every foreign corporation for profit, including a corporation that, if a domestic corporation for profit, would be a banking institution, credit union or savings association. (b) Domestic Federal financial institution exclusion.-- Except as permitted by act of Congress, this article shall not apply to: (1) Any of the following institutions or similar federally chartered institutions engaged in this Commonwealth in activities similar to those conducted by banking institutions, saving associations or credit unions: (i) National banking associations organized under The National Bank Act (13 Stat. 99, 12 U.S.C. § 1 et seq.). (ii) Federal savings and loan associations and Federal mutual savings banks organized under the Home Owners' Loan Act of 1933 (48 Stat. 128, 12 U.S.C. § 1461 et seq.). (iii) Federal credit unions organized under the Federal Credit Union Act (48 Stat. 1216, 12 U.S.C. § 1751 et seq.). (2) Any other Federal corporation intended by the Congress to be treated for state law purposes as a domestic corporation of this Commonwealth. (Dec. 19, 1990, P.L.834, No.198, eff. imd.)