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§ 920. Surplus

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 VIII. Mutual Companies Other than Mutual Life Companies
40 P.S. § 920
§ 920. Surplus
Currentness
On or after July 1, 1957, no mutual insurance company, other than a mutual life insurance company, shall transact any of the class of insurance mentioned in subdivision (c)(1) of section 202 of this act,1 until it shall have and shall maintain, at all times, a surplus over all liabilities including unearned premiums, computed in accordance with the laws of this Commonwealth, of not less than two hundred and fifty thousand dollars ($250,000.00): Provided, however, That nothing in this section shall be construed to reduce the requirements under section 806 of this act.2

Credits

1921, May 17, P.L. 682, art. VIII, § 810, added 1957, July 3, P.L. 460, § 1.

Footnotes

1
40 P.S. § 382.
2
40 P.S. § 916.
40 P.S. § 920, PA ST 40 P.S. § 920
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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