31 Pa. Code § 90a.13

Current through Register Vol. 54, No. 45, November 9, 2024
Section 90a.13 - Wholly-owned subsidiaries

A company which is a wholly-owned subsidiary of a life insurance company which has been transacting the business of life insurance in this Commonwealth for a period of at least 5 years may, at the discretion of the Department, be deemed to have satisfied the requirements of § 90a.11(4) (relating to licensing) if either the subsidiary or the life insurance company satisfies the requirements. A wholly-owned subsidiary qualifying to issue contracts by virtue of this section may continue to issue contracts only for so long as it continues to remain a wholly-owned subsidiary of the parent company through which it was deemed to have satisfied the applicable requirements of this section, unless the subsidiary has itself satisfied the requirements.

31 Pa. Code § 90a.13