Section 514 - Bonds and suretyshipA savings bank may in the ordinary course of its business:
(a) Bonds for transactions of goods--Give its bond, either alone or as surety for another, in connection with any bona fide transaction involving the import, export or domestic shipment of goods;(b) Guarantees for items for collection--Give guarantees in connection with the receipt and forwarding of items for collection;(c) Guarantees for securities--Give guarantees in connection with the transfer, exchange and collection of securities; and(d) Miscellaneous guarantees--Give such other guarantees as the department may from time to time approve.1965, Nov. 30, P.L. 847, No. 356, § 514, added 1984, July 6, P.L. 606, No. 125, § 3, imd. effective.