Pennsylvania Consolidated & Unconsolidated Statutes
Title 40 - INSURANCE
Chapter 35 - Medical Professional Liability Reciprocal Exchange-to-Stock Conversion

Extra - Chapter Notes - Enactment. Chapter 35 was added May 13, 2015, P.L.3, No.2,...

Section 3501 - Definitions - The following words and phrases when used in this chapter...

Section 3502 - Adoption of plan of conversion - (a) Plan of conversion.--The following shall apply: (1) A plan...

Section 3503 - Contents of plan of conversion - (a) Contents.--The following provisions shall be included in a plan...

Section 3504 - Optional provisions of plan of conversion - (a) Subscription rights.--The plan may provide that the directors and...

Section 3505 - Alternative plan of conversion - A plan of conversion may be adopted that does not...

Section 3506 - Effective date of plan - A plan is effective when the following have been completed:...

Section 3507 - Rights of subscribers whose policies are issued after adoption of plan and before effective date - (a) Notice.--A subscriber shall be sent a written notice regarding...

Section 3508 - Corporate existence - On the effective date of the conversion, the corporate existence...

Section 3509 - Conflict of interest - (a) Compensation.--A director, officer, agent or employee of the attorney...

Section 3510 - Failure to give notice - If the reciprocal insurer complies substantially and in good faith...

Section 3511 - Limitation on actions - An action challenging the validity of or arising out of...

Section 3512 - Reciprocal insurer insolvent or in hazardous financial condition - (a) Waiver of requirements.--If a reciprocal insurer seeking to convert...

Section 3513 - Rules and regulations - The commissioner may promulgate rules and regulations to administer and...

Section 3514 - Laws applicable to stock company - (a) Control of stock company.--A reciprocal insurer may not convert...

Section 3515 - Licensing of stock company and commencement of business as an insurance company - The commissioner may waive the minimum surplus requirement of a...

Section 3516 - Amendment of policies - By endorsement or rider approved by the commissioner and sent...

Section 3517 - Prohibition on acquisition of control - Except as otherwise specifically provided in section 3503 (relating to...