40 Pa. Stat. § 310.51

Current through P.A. Acts 2024-18
Section 310.51 - Conditional financial transactions

No financial institution or its directors, officers, employees, agents or insurance producers may require the purchase of insurance from the financial institution or its affiliates or from a designated insurer or insurance producer as a condition of a loan or deposit transaction. A financial institution or its directors, officers, employees, agents or insurance producers may not reject a required contract of insurance solely because the contract was sold by a person that is not associated with the financial institution.

40 P.S. § 310.51

1921, May 17, P.L. 789, art. VI-A, § 651-A, added 2002, Dec. 6, P.L. 1183, No. 147, § 2, effective in 180 days.