§ 321.7. Prohibited Acts
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 321.7
§ 321.7. Prohibited Acts
The RM shall not:
(1) Bind retrocessions on behalf of the reinsurer except that the RM may bind facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocessions. Such guidelines shall include a list of reinsurers with which such automatic agreements are in effect, and for each such reinsurer, the coverages and amounts or percentages that may be reinsured, and commission schedules.
Credits
1921, May 17, P.L. 789, No. 285, art. VII, § 707, added 1992, Dec. 18, P.L. 1496, No. 177, § 12, effective in 120 days.
40 P.S. § 321.7, PA ST 40 P.S. § 321.7
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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