Current through Register Vol. 54, No. 24, June 15, 2024
Section 17.10 - Insurance names(a) In section 1303(c)(1)(iii) of the BCL (relating to corporate name) it is provided that the name of a business corporation may not imply that the corporation is an insurance company nor contain the words "annuity," "assurance," "beneficial," "bond," "casualty," "endowment," "fidelity," "fraternal," "guaranty," "indemnity," "insurance," "insurer," "reassurance," "reinsurance," "surety" or "title" when used to imply that the corporation is engaged in the business of writing insurance or reinsurance as principal or other words of like purport unless it is licensed as an insurance company by its jurisdiction of incorporation or the Insurance Department certifies to the Department that the Insurance Department has no objection to the use by the corporation or proposed corporation of the designation, and that the name of a domestic insurance corporation shall contain the word "mutual" only if it is a mutual insurance company.(b) In section 5303(c)(1)(iii) of the NPCL (relating to corporate name), it is provided that the name of a nonprofit corporation may not imply that the corporation is an insurance company of any of the classes which might be incorporated under the BCL.The provisions of this § 17.10 adopted June 22, 1973, effective 6/23/1973, 3 Pa.B. 1164; amended April 17, 1992, effective 4/18/1992, 22 Pa.B. 1993. This section cited in 19 Pa. Code § 13.14 (relating to governmental approvals).