§ 613. Retirement of guarantee capital
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 613
§ 613. Retirement of guarantee capital
Whenever the lawful invested assets of any mutual life insurance company shall exceed the reserve and other liabilities to an amount equal to the amount of the guarantee capital subscribed, the directors or trustees, at their option, may retire or return all or such portion of the guarantee capital to the subscribers as the interest of the company may warrant; but no sum in cash shall be returned exceeding that actually paid in, with the interest due and unpaid.
Credits
1921, May 17, P.L. 682, art. IV, § 428.
40 P.S. § 613, PA ST 40 P.S. § 613
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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