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§ 461. Failure to do business; dissolution

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 III. General Provisions Relating to Insurance Companies, Associations, and Exchanges (Refs & Annos)
40 P.S. § 461
§ 461. Failure to do business; dissolution
Currentness
If any stock or mutual insurance company does not commence to issue policies within one year from the date of its letters patent, or if any insurance company shall cease for one year to make new insurances, its corporate powers and existence shall cease, and the court, upon petition of the Attorney General, may fix by decree the time within which it shall settle and close its affairs.

Credits

1921, May 17, P.L. 682, art. III, § 339. Amended 1968, April 17, P.L. 94, No. 43, § 1.
40 P.S. § 461, PA ST 40 P.S. § 461
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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