§ 3515. Licensing of stock company and commencement of business as an insurance company.
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/pa/title-40/chapter-35/3515A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 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.
40c3516s