40 Pennsylvania Consolidated Statutes § 3515 - Licensing Of Stock Company And Commencement Of Business As An Insurance Company

§ 3515. Licensing of stock company and commencement of business as an insurance company.

The commissioner may waive the minimum surplus requirement of a stock company in connection with the initial licensing of a stock company that will be the successor to a reciprocal insurer. The stock company may not engage in the business of insurance as a stock company until the completion of the merger with the reciprocal insurer and compliance with the provisions of this chapter.

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Last modified: October 8, 2016