§ 156. Reserve fund to be a trust fund
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 156
§ 156. Reserve fund to be a trust fund
It is the intent and purpose of this section that the reserve fund hereby directed to be set aside shall constitute a separate and distinct trust fund for the protection of policy holders, and shall not be subject to distribution among depositors or other creditors, until all policy holders have been paid in full, or the liability on the policies contingent or actual has been completely discharged.
Credits
1929, April 26, P.L. 834, § 1(f).
40 P.S. § 156, PA ST 40 P.S. § 156
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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