Pennsylvania Statutes Title 40 P.S. Insurance § 60. Renewal of licenses; fees

The Insurance Commissioner may issue licenses for a period of two years at two times the annual fees established by this act. One-half of any fee collected shall be refunded or be credited to the account of the payor entitled to the refund if such license is cancelled within twelve months of its inception date or within twelve months of effective date as certified to the Insurance Commissioner by insurance companies, associations and exchanges authorized by law to transact business within this Commonwealth.