§ 1600.305. Reimbursement payments to Federal reinsurance facility; necessity for claim by Fede...
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 1600.305
§ 1600.305. Reimbursement payments to Federal reinsurance facility; necessity for claim by Federal reinsurance facility; limitation on amount of payments
(a) Payments under section 304(a)(1) hereof1 shall be made only upon direction of the Treasurer of the Commonwealth and after receipt by him of a claim from the Federal reinsurance facility. Prior to the making of such payment the authority shall make such investigation as it may deem appropriate in order to verify the correctness of the claim made by the Federal reinsurance facility.
(b) The total amount of any such payments made during any calendar year shall not exceed five per cent of the aggregate property insurance premiums earned in the Commonwealth during the preceding calendar year on those lines of insurance reinsured by the Federal reinsurance facility in the Commonwealth during the current year.
Credits
1968, July 31, P.L. 738, No. 233, art. III, § 305.
Footnotes
40 P.S. § 1600.304(a)(1).
40 P.S. § 1600.305, PA ST 40 P.S. § 1600.305
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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