72 Pa. Stat. § 3772
All banks, banking institutions, or trust companies desiring to become depositories of State moneys shall make written application to the State Treasurer for a deposit of State moneys, designating the amounts of deposits solicited, and accompanying their applications by a written statement of the amount of their capital actually paid in, the amount of their surplus, the number of their stockholders, and whether their stock is well distributed, or largely held by a few individuals, and the length of time that said institution has been engaged in business under its charter, verified by the oath or affirmation of the president, cashier, or trust officers, as the case may be. Said State Treasurer shall present the same to the Revenue Commissioners and Banking Commissioner, acting jointly, for their consideration, within thirty days, and that where a selection of any bank, banking institution, or trust company as a depository of State moneys has been made by the Revenue Commissioners and the Banking Commissioner, or a majority of them, as aforesaid, without a previous application, as aforesaid, it shall be the duty of the depository so selected to furnish, on request, the information aforesaid, verified in the manner stated.
72 P.S. § 3772