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Current as of January 01, 2025 | Updated by Findlaw Staff
Every foreign stock and mutual fire insurance company, association, or exchange shall, annually and at such other times as the Insurance Commissioner may require, in addition to all returns now by law required of it or its agents or managers, make a return to the Insurance Commissioner, in such form and detail as may be prescribed by him, of all insurance, reinsurance, or cessions of risks or liability contracted for or effected by it, whether by issue of policy, entry on bordereau, or general participation agreement, or by excess loss reinsurance, or in any other manner whatsoever upon property located in this State, or covering, whether specified or otherwise, any risk or liability upon property so located. Such return shall be certified by the oath of its president and secretary or attorney, if a company, association, or exchange of one of the United States, and, if a company or association of a foreign country, by the oath of its managers in the United States, as to such reinsurance or cessions effected through its branch office in the United States, and by the oath of its president and secretary, or by officers corresponding thereto at its home office, wherever located, as to reinsurance or cessions as aforesaid contracted for or effected through the foreign office. The refusal of any such company, association, or exchange to make the returns herein required shall be presumptive evidence that it is guilty of violating the provisions of the next preceding section of this act, 1 and shall subject it to the penalties prescribed and imposed by section five hundred and four (504) of this act. 2
Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 633. Annual returns of business - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-633/
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