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Pennsylvania Statutes Title 40 P.S. Insurance § 991.2455. Foreign or alien society; admission

Current as of January 01, 2022 | Updated by FindLaw Staff

No foreign or alien society shall transact business in this Commonwealth without a license issued by the commissioner. Any such society desiring admission to this Commonwealth shall comply substantially with the requirements and limitations of this article applicable to domestic societies. Any such society may be licensed to transact business in this Commonwealth upon filing the following with the commissioner and upon a showing that its assets are invested in accordance with the provisions of this article:

(1) A duly certified copy of its articles of incorporation.

(2) A copy of its bylaws, certified by its secretary or corresponding officer.

(3) A power of attorney to the commissioner as prescribed in this article.

(4) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province or country satisfactory to the commissioner.

(5) Certification from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business therein.

(6) Copies of its certificate forms.

(7) Such other information as the commissioner may deem necessary.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 991.2455. Foreign or alien society; admission - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-991-2455/

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