§ 623.3. Reserves
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 623.3
§ 623.3. Reserves
Any corporation formed under the provisions of this act shall place reserves on the life portion contained in all policies issued based upon a standard table of mortality, with interest at a rate of not more than three and one-half per cent (3 ½ ), as approved by the Insurance Department of the Commonwealth, and reserves shall be carried on the disability feature, of fifty per centum of the actual weekly, monthly or annual premiums in force, and reserves shall be charged on all definite and outstanding incurred claims.
Credits
1951, June 28, P.L. 941, § 3.
40 P.S. § 623.3, PA ST 40 P.S. § 623.3
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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