2012 Pennsylvania Consolidated Statutes
Title 17 - CREDIT UNIONS
Chapter 3 - Incorporation
Section 302 - Number and qualifications of incorporators

     § 302.  Number and qualifications of incorporators.
        (a)  General rule.--A credit union may be incorporated
     pursuant to the provisions of this title by seven or more
     incorporators. Such incorporators shall be natural persons of
     full age, the majority of whom are residents of this
     Commonwealth and who have a common bond of association as
     provided in section 701 (relating to membership).
        (b)  Central or corporate credit unions.--A central or
     corporate credit union may be incorporated, pursuant to the
     provisions of this title, by 15 or more credit unions chartered
     under the laws of the United States or of any state, which have
     agreed to purchase shares in the credit union in amounts not
     less than the minimum specified in the bylaws.