40 Pa. Stat. § 910-16

Current through P.A. Acts 2023-32
Section 910-16 - Investment and maintenance of the unearned premium reserve

The amount of the unearned premium reserve shall be invested by each such title insurance company according to the investment schedule provided in section 734 of this act. If by reason of depreciation in the market value of investments or other cause, the amount of the assets eligible for investment of the unearned premium reserve should on any date be less than the amount required to be maintained by law in such reserve, and the deficiency shall not be promptly cured, such title insurance company shall forthwith give written notice thereof to the Insurance Commissioner and shall make no further policies or contracts or reinsurance agreements of title insurance until the amounts of such eligible investments shall have been restored and until it shall have received written approval from the Insurance Commissioner authorizing it to again issue such policies or contracts or agreements.

40 P.S. § 910-16

1921, May 17, P.L. 682, art. VII, § 716, added 1963, Aug. 14, P.L. 922, § 3.