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§ 991.2609. Sanctions

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: January 1, 2015

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 2. Insurance Companies (Refs & Annos)
Article XXVI. Risk Management and Own Risk Solvency Assessment
Effective: January 1, 2015
40 P.S. § 991.2609
§ 991.2609. Sanctions
Currentness
An insurer that fails to timely file an ORSA summary report as required under this article or by regulation shall be required to pay a penalty of $200 for each day of delay. The maximum penalty under this section is $25,000 per year.

Credits

1921, May 17, P.L. 682, No. 284, art. XXVI, § 2609, added 2013, Oct. 25, P.L. 656, No. 78, § 2, effective Jan. 1, 2015.
40 P.S. § 991.2609, PA ST 40 P.S. § 991.2609
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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