NATL. BANK DEBT CANCELLATION CONTRACTS


34 Pa. D. & C. 2d 161 (1964)

National Bank Debt Cancellation Contracts

Common Pleas Court of Philadelphia County, Pennsylvania.

December 8, 1964.


WALTER E. ALESSANDRONI, Attorney General, December 8, 1964.

You request the advice of this department upon the following question:

"May a national bank operating in Pennsylvania enter into a debt cancellation contract or similar arrangement, which provides that the debt will be automatically cancelled in the event of the borrower's death, without complying with Pennsylvania's insurance laws?"

Your question arises as a result of an opinion issued by...

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