40 Pa. C.S. § 3515

Current through P.A. Acts 2023-66

Section 3515 - Licensing of stock company and commencement of business as an insurance company

The commissioner may waive the minimum surplus requirement of a stock company in connection with the initial licensing of a stock company that will be the successor to a reciprocal insurer. The stock company may not engage in the business of insurance as a stock company until the completion of the merger with the reciprocal insurer and compliance with the provisions of this chapter.

40 Pa.C.S. § 3515

Added by P.L. TBD 2015 No. 2, § 1, eff. 7/12/2015.