Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(a) to (c) Repealed. 1990, Dec. 19, P.L. 834, No. 198, § 401(b), effective in 6 months.
(d) A mutual insurance company, other than life or title, shall be permitted to amend its charter to include any or all of the kinds of insurance included in section 202, subdivisions (b) and (c), 1 if its total assets less net liability for losses, for expenses and for unearned premium reserve are not less than the minimum surplus specified in section 206(e) 2 for the incorporation of new companies, without the necessity of obtaining or of holding any application or of issuing any policy as specified in section 206(e) for the incorporation of new companies.
(e) Before any domestic stock fire, stock marine, stock fire and marine, or stock casualty insurance company transacting business under subdivisions (b) or (c) of section two hundred two of this act may procure an amendment to its charter for the transaction of additional kinds or classes of business under subdivisions (b) or (c) or both, said section two hundred two, it must have a paid up capital and a paid in or accumulated surplus in amounts required by subdivisions (b) or (c) or both, section two hundred six of this act, for incorporation for its present and proposed additional purposes.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 445. Amendment of charter - last updated January 01, 2019 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-445/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.