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§ 991.1509. Notice and registration requirements

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 XV. Risk Retention
40 P.S. § 991.1509
§ 991.1509. Notice and registration requirements
Currentness
(a) A purchasing group which intends to do business in this Commonwealth shall, prior to doing such business, furnish notice to the department which notice shall do all of the following:
(1) Identify the state in which the group is domiciled.
(2) Identify the principal place of business of the group.
(3) Identify all other states in which the group intends to do business or is doing business.
(4) Specify the kinds and classifications of liability insurance which the purchasing group intends to purchase.
(5) Specify the method by which and the person or persons, if any, through whom insurance will be offered to its members whose risks are resident or located in this Commonwealth.
(6) Identify the names and chartering jurisdictions of the insurance company or companies from which the group intends to purchase its insurance.
(7) Confirm that the insurer from which the purchasing group intends to purchase insurance has filed with the department, pursuant to section 3541 and all other provisions of insurance laws, rules and regulations governing policy form and rate standards, the rates and forms it intends to use to provide coverage for the risks resident in this Commonwealth.
(8) Provide such other information as may be required by the department to verify that the purchasing group is qualified under the definition of “purchasing group” in section 1502.2
(b) A purchasing group shall notify the department within ten (10) days as to any subsequent changes in any of the items set forth in subsection (a).
(c) Each purchasing group which is required to give notice pursuant to subsection (a) shall also furnish such information as may be required by the department to do any of the following:
(1) Verify that the entity qualifies as a purchasing group.
(2) Determine the location of the purchasing group.
(3) Determine appropriate tax treatment.
(d)(1) The purchasing group shall submit a statement of registration, for which a filing fee shall be imposed, which designates the department as its agent solely for the purpose of receiving service of legal documents or process.
(2) The designation of the department shall be accompanied by written designation of the name and address of the officer, agent or other person to whom such process shall be forwarded by the department or its deputy on behalf of such purchasing group. In the event such designation is changed, a new certificate of designation shall be filed with the department within ten (10) days of such change.
(3) Service of process upon a purchasing group pursuant to this subsection shall be made by serving the department, any deputy thereof or any salaried employe of the department whom the department designates for such purpose with two copies thereof and the payment of a fee to be published by notice in the Pennsylvania Bulletin. The department shall forward a copy of such process by registered or certified mail to the purchasing group at the address given in its written certificate of designation and shall keep a record of all process so served upon it. Service of process so made shall be deemed made within the territorial jurisdiction of any court in this Commonwealth.
(4) Such requirements shall not apply in the case of a purchasing group which only purchases insurance that was authorized under the Products Liability Risk Retention Act of 1981 (Public Law 97-45, 95 Stat. 949); and
(i) which in any state of the United States:
(A) was domiciled before April 1, 1986; and
(B) is domiciled on and after October 27, 1986; and
(ii) which:
(A) before October 27, 1986, purchased insurance from an insurance company licensed in any state;
(B) since October 27, 1986, purchased its insurance from an insurance company licensed in any state;
(C) was a purchasing group under the requirements of the Product Liability Risk Retention Act of 1981 before October 27, 1986; and
(D) does not purchase insurance that was not authorized for purposes of an exemption under that article, as in effect before October 27, 1986.
(e) Any purchasing group which was doing business in this Commonwealth prior to the enactment of this act shall, within thirty (30) days after the effective date of this article, furnish notice to the department pursuant to the provisions of subsection (a) and furnish such information as may be required pursuant to subsections (b), (c) and (d).

Credits

1921, May 17, P.L. 682, No. 284, art. XV, § 1509, added 1992, Dec. 18, P.L. 1519, No. 178, § 19, effective in 120 days.

Footnotes

1
40 P.S. § 477b.
2
40 P.S. § 991.1502.
40 P.S. § 991.1509, PA ST 40 P.S. § 991.1509
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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