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Current as of January 01, 2025 | Updated by Findlaw Staff
The custody of said reserve fund shall be retained by the company, and the fund shall be kept separate and apart from other assets of the company in the manner hereinafter provided. The secretary is hereby required, from time to time, to make investigation to ascertain that a reserve fund equal to the amount required by clause (b) of this section 1 is so maintained. Should any company neglect or refuse to establish or maintain such reserve fund, as herein provided, the secretary shall, by an order under his hand and seal of office, direct said company either to comply with the provisions of this section or to discontinue doing a title insurance business.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 153. Custody; supervision by secretary - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-153/
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