40 Pa. Stat. § 211
The Insurance Commissioner and his deputies engaged in liquidating the business of any insurance company under the authority of the act of June one, one thousand nine hundred and eleven (Pamphlet Laws, five hundred and ninety-nine), entitled "An act authorizing the Insurance Commissioner to proceed against and to take possession of any insolvent or delinquent company, order or association transacting any class of insurance; and prescribing the method by which such insolvent or delinquent companies, orders or associations shall be dissolved and liquidated," shall deposit any and all moneys or funds, which are in the form of legal tender, and which shall come into their hands in the capacity of receiver for such company, within one month of their receipt, in such banks, banking institutions, or trust companies as shall be selected for this purpose and approved by the State Depository Board from time to time, and in such amounts as said board shall direct. The same shall there remain until paid out by the Insurance Commissioner or his deputies on the order of the proper court.
40 P.S. § 211