40 Pa. Stat. § 158
Current through Pa Acts 2024-53, 2024-56 through 2024-127
The reserve fund in the custody of the secretary shall be liable only to the following claims:
One. To pay all outstanding claims of indemnity that have arisen by virtue of any policies of insurance.
Two. For the purchase of reinsurance to indemnify and protect the remaining outstanding policies.
Three. To distribute among policy holders, upon cancellation of their policies, the proportionate share of the reserve fund to which they are entitled, which shall in no case exceed the proportion which the premium paid for any such policy may bear to the whole amount of title insurance then outstanding.
40 P.S. § 158