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§ 4305. Retention

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: July 2, 2013

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 43. Insurance Regulation and Oversight Fund Act
Effective: July 2, 2013
40 P.S. § 4305
§ 4305. Retention
Currentness
At the end of the fiscal year, the fund shall retain an amount equal to not more than 100% of the total expenditures and commitments by the department from the fund in the immediately preceding fiscal year. If the balance in the fund at the end of the fiscal year exceeds this retention amount, then that amount of the fund which exceeds the retention amount shall be lapsed and deposited in the General Fund within 30 days of the end of the fiscal year.

Credits

2013, July 2, P.L. 255, No. 46, § 5, imd. effective.
40 P.S. § 4305, PA ST 40 P.S. § 4305
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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