Current through Register Vol. 54, No. 52, December 28, 2024
Section 37a.23 - [Effective 2/12/2025] Merger of insurance entities(a) When insurers merge, consolidate or reincorporate, the insurers have the option to transfer all or none of their insurance producer appointments to the new surviving insurer. The transfer takes place immediately after the merger transaction is effective. Additional lines of authority will not be granted to these insurance producers by means of the transaction.(b) If the surviving insurer decides to transfer all insurance producer appointments, it shall notify the department in writing within 30 days of the transfer.Adopted by Pennsylvania Bulletin, Vol 54, No. 50. December 14, 2024, effective 2/12/2025