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§ 912.1. Investment of assets

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 2. Insurance Companies (Refs & Annos)
Article VIII. Mutual Companies Other than Mutual Life Companies
40 P.S. § 912.1
§ 912.1. Investment of assets
Currentness
Every domestic mutual insurance company, other than a mutual life insurance company, shall invest and keep invested all its funds in accordance with the laws of this Commonwealth relating to the investment of funds of domestic stock fire, stock marine, or stock fire and marine insurance companies. Provided, however, That any mutual insurance company which does not possess a certificate of authority to issue nonassessable insurance policies shall be permitted to invest its funds in assets specified in subsection (a)(3), (6), (7), (8), (9), (10), (11) and (12) of section 518C1 only after obtaining prior written approval of the Insurance Commissioner.

Credits

1921, May 17, P.L. 682, No. 284, § 802.1, added 1989, Dec. 22, P.L. 755, No. 106, § 10, imd. effective.

Footnotes

1
40 P.S. § 653c(a)(3), (6), (7), (8), (9), (10), (11), (12).
40 P.S. § 912.1, PA ST 40 P.S. § 912.1
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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