Examination of societies

Act 284 of 1921, § 2454, under "INSURANCE COMPANY LAW OF 1921, THE".

Act 284 of 1921, § 2454

Section 2454. Examination of societies.

(a) General rule.--The commissioner or any person he may appoint may examine any domestic, foreign or alien society transacting or applying for admission to transact business in this Commonwealth in the same manner as authorized for examination of domestic, foreign or alien insurers. Requirements of notice and an opportunity to respond before findings are made public as provided in the insurance laws regulating insurers shall also be applicable to the examination of societies.

(b) Payment of expenses.--The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined or whose certificates are valued upon statements furnished by the commissioner.

(2454 added July 10, 2002, P.L.749, No.110)