Section 84 - Application of corporate takeover lawThis act does not apply when:
(1) The offeror or the target company is a public utility or a public utility holding company as defined in section 2 of the Federal "Public Utility Holding Company Act of 1935," 49 Stat. 803, 15 U.S.C. 79, as amended, and the takeover offer is subject to approval by the appropriate Federal agency as provided in such act.(2) The offeror or the target company is a bank or a bank holding company subject to the Federal "Bank Holding Company Act of 1956," 70 Stat. 133, 12 U.S.C. 1841 , as amended, and the takeover offer is subject to approval by the appropriate Federal agency as provided in such act, or the target company is a bank or a bank holding company covered bysection 112 of the act of November 30, 1965 (P.L. 847, No. 356), as amended, known as the "Banking Code of 1965." (3) The offeror or the target company is a savings and loan holding company as defined in section 2 of the Federal "Savings and Loan Holding Company Amendments of 1967," 82 Stat. 5, 12 U.S.C. 1730A, as amended, and the takeover offer is subject to approval by the appropriate Federal agency as provided in such act.(4) The target company is a bank and the offer is part of a transaction involving a merger, consolidation, purchase of assets or assumption of liabilities subject to approval by an appropriate Federal supervisory authority.(5) In the case of a target company, the acquisition of shares of such company is subject to regulation under the act of May 17, 1921 (P.L. 682, No. 284), known as "The Insurance Company Law of 1921," or under the act of May 28, 1937 (P.L. 1053, No. 286), known as the "Public Utility Law." 1976, March 3, P.L. 42, No. 19, § 14, imd. effective.