Pennsylvania Statutes Title 40 P.S. Insurance § 488.5. Suspension of certificate of authority; dissolution

If any insurance company, association, or exchange is found in possession of stocks, bonds, debentures, notes, investment certificates, securities, or other obligations or evidences of indebtedness acquired in violation of section 1 of this act,  1 or if any of its officers, directors, members, or attorneys-in-fact have been convicted under section 1, such company, association, or exchange may be subject to suspension of its certificate of authority by the Insurance Commissioner. Nothing in this section shall be construed to prevent the Insurance Commissioner from bringing an action to dissolve such insurance company, association, or exchange, under the provisions of Article V of the act of May 17, 1921 (P.L. 789), known as “The Insurance Department Act of one thousand nine hundred and twenty-one.”  2