The following words and phrases when used in this act shall have, unless the context clearly indicates otherwise, the meanings given to them in this section:
"Association." Any building, savings or savings and loan association organized under the laws of this Commonwealth and any Federal savings and loan association incorporated pursuant to the Federal act of June 13, 1933 (48 Stat. 128), known as the "Home Owners' Loan Act of 1933," which has its principal office in this Commonwealth and 75% of its total assets invested in this Commonwealth.
"Corporation." The Pennsylvania Savings Association Insurance Corporation.
"Directors" or "board of directors." The Board of Directors of the Pennsylvania Savings Association Insurance Corporation.
"Savings account." Any sum of money deposited with an association in exchange for a promise to pay interest or earnings to or for the account of the depositors.
7 P.S. § 6501