40 Pa. Stat. § 916

Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 916 - Premiums

The "maximum premium" payable by any member of a mutual insurance company, other than a mutual life insurance company, shall be expressed in the policy, or in the application for the insurance if attached to the policy. Such maximum premium shall be a cash premium and an additional contingent premium not less than the cash premium, or may be solely a cash premium. No policy shall be issued for a cash premium without an additional contingent premium, unless the company has and maintains a surplus which is not less in amount than the minimum capital required of domestic stock insurance companies authorized to transact the same class or classes of insurance.

40 P.S. § 916

1921, May 17, P.L. 682, art. VIII, § 806. Amended 1968, Nov. 27, P.L. 1118, No. 349, §8 [ § 7].