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Pennsylvania Statutes Title 40 P.S. Insurance § 461. Failure to do business; dissolution

Current as of January 01, 2025 | Updated by Findlaw Staff

If any stock or mutual insurance company does not commence to issue policies within one year from the date of its letters patent, or if any insurance company shall cease for one year to make new insurances, its corporate powers and existence shall cease, and the court, upon petition of the Attorney General, may fix by decree the time within which it shall settle and close its affairs.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 461. Failure to do business; dissolution - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-461/

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