§ 991.1411. Receivership
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 991.1411
§ 991.1411. Receivership
Whenever it appears to the department that any person has committed a violation of this article which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders or the public, the department may proceed, in the manner provided by law, to take possession of the property of such domestic insurer and to conduct the business thereof.
Credits
1921, May 17, P.L. 682, No. 284, art. XIV, § 1411, added 1992, Dec. 18, P.L. 1519, No. 178, § 19, effective in 120 days.
40 P.S. § 991.1411, PA ST 40 P.S. § 991.1411
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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