"INSURANCE COMPANY LAW of 1921, THE" Cl. 40 Act of May 17
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"INSURANCE COMPANY LAW OF 1921, THE" Act of May 17, 1921, P.L. 682, No. 284 Cl. 40 AN ACT Relating to insurance; amending, revising, and consolidating the law providing for the incorporation of insurance companies, and the regulation, supervision, and protection of home and foreign insurance companies, Lloyds associations, reciprocal and inter-insurance exchanges, and fire insurance rating bureaus, and the regulation and supervision of insurance carried by such companies, associations, and exchanges, including insurance carried by the State Workmen's Insurance Fund; providing penalties; and repealing existing laws. Compiler's Note: Section 5(b) of Act 147 of 2002 provided that Act 284 is repealed insofar as it is inconsistent with Act 147. Compiler's Note: Section 301(a)(7) of Act 58 of 1996, which created the Department of Community and Economic Development and abolished the Department of Community Affairs, provided that the Community Development Block Grant Program under Act 284 is transferred from the Department of Community Affairs to the Department of Community and Economic Development. Section 301(a)(16) of Act 58 of 1996 provided that all other powers and duties delegated to the Department of Community Affairs not otherwise expressly transferred elsewhere by Act 58 and currently performed by the Department of Community Affairs under Act 284 are transferred from the Department of Community Affairs to the Department of Community and Economic Development. Compiler's Note: Section 401(b) of Act 198 of 1990 provided that the provisions of The Insurance Company Law of 1921 that have not been repealed by Act 198 shall control over the provisions of Title 15. CONTENTS. SECTIONS Article I. Preliminary Provisions......... 101-109 Article II. Incorporation of Insurance Companies..................... 201-216 Article III. General Provisions Relating to Insurance Companies, Associations and Exchanges... 300-358 Article IV. Life Insurance................. 401-430 (a) General Provisions Relating to Stock and Mutual Companies....... 401-419 (b) Provisions Relating to Stock Companies........ 420-421 (c) Provisions Relating to Mutual Companies....... 426-430 (d) Provisions Relating to Locating Life Insurance Policies............... 441-442 Article IV-A. Life and Endowment Insurance and Annuities..................... 401-A-411-A Article IV-B. Suitability of Annuity Transactions.................. 401-B-408-B Article V. Fire and Marine Insurance...... 501-553 (a) General Provisions Relating to Stock and Mutual Companies, and to Associations and Exchanges.............. 501-508 (b) Provisions Relating to Stock Companies........ 516-524 (c) Provisions Relating to Mutual Companies....... 531-534 (d) Fire Insurance Rates and Rating Bureaus......... 541-553 Article V-A. Property and Casualty Filing Reform........................ 501-A-519-A Article VI. Casualty Insurance............. 601-697 (a) General Provisions Relating to Stock Companies.............. 601-610 (b) Health and Accident Insurance.............. 616-635.7 (c) Employers' Mutual Liability Insurance Associations........... 636-647 (d) Workmen's Compensation Insurance.............. 651-655 (e) Surety Companies......... 661-667 (f) Boiler Insurance......... 671 (g) Mutual Casualty Insurance 675-697 Article VI-A. Benefits for Alcohol Abuse and Dependency.................... 601-A-608-A Article VI-B. Health Insurance Coverage Parity and Nondiscrimination........ 601-B-606-B Article VII. Title Insurance Companies...... 701-755 Article VIII. Mutual Companies other than Mutual Life Companies........ 801-810 Article VIII-A. Mutual-to-Stock Conversion... 801-A-819-A Article IX. Lloyds Associations............ 901-914 Article X. Reciprocal and Inter-Insurance Exchanges..................... 1001-1011 Article X-A. Health Care Insurance Individual Accessibility................. 1001-A-1012-A Article X-B. Fairness in Multiple Copayments 1001-B-1006-B Article XI. Long-Term Care................. 1101-1115 Article XII. Uniform Health Insurance Claim Form.......................... 1201-1205 Article XIII. Broker Controlled Property and Casualty Insurers............. 1301-1305 Article XIV. Insurance Holding Companies.... 1401-1413 Article XV. Risk Retention................. 1501-1516 Article XVI. Surplus Lines.................. 1601-1626 Article XVII. Life and Health Insurance Guaranty Association.......... 1701-1718 Article XVIII. Pennsylvania Property and Casualty Insurance Guaranty Association................... 1801-1820 Article XX. Automobile Insurance Issuance, Renewal, Cancellation and Refusal....................... 2001-2013 Article XXI. Quality Health Care Accountability and Protection................ 2101-2194 (a) Preliminary Provisions.. 2101-2102 (b) Managed Care Plan Requirements........... 2111-2113 (c) Medical Services......... 2116-2117 (d) Provider Credentialing.. 2121 (e) Confidentiality.......... 2131 (f) Information for Enrollees 2136 (g) Complaints.. 2141-2143 (h) Utilization Review....... 2151-2152 (i) Grievances............... 2161-2163 (j) Prompt Payment........... 2166 (k) Health Care Provider and Managed Care Plan Protection............. 2171 (l) Enforcement.............. 2181-2183 (m) Miscellaneous............ 2191-2194 Article XXIII. Children's Health Care....... (Repealed) (a) General Provisions....... 2301-2303 (b) Primary Health Care Programs............... 2311-2314 (c) through (f) (Reserved) (g) Miscellaneous Provisions. 2361-2362 Article XXIII-A. Comprehensive Health Care for Uninsured Children....... 2301-A-2309-A Article XXIV. Fraternal Benefit Societies... 2401-2466 (a) General Provisions....... 2401-2406 (b) Membership............... 2411-2414 (c) Governance............... 2421-2428 (d) Contractual Benefits.... 2431-2435 (e) Financial................ 2441-2442 (f) Regulation............... 2451-2466 Article XXV. Community Health Reinvestment.. 2501-2504 Article XXVI. Risk Management and Own Risk Solvency Assessment........... 2601-2610 Article XXVII. Quality Eye Care for Insured Pensylvanians................. 2701-2707 Section 1. Be it enacted, &c., That the laws providing for the incorporation of insurance companies, and the regulation, supervision, and protection of home and foreign insurance companies, Lloyds associations, reciprocal and inter-insurance exchanges, and fire insurance rating bureaus, and the regulation and supervision of insurance carried by such companies, associations, and exchanges, including insurance carried by the State Workmen's Insurance Fund, are hereby amended, revised, and consolidated as follows: ARTICLE I. PRELIMINARY PROVISIONS. Section 101. Certain Words Defined.--The word "company," as used in this act, shall be construed to include incorporated insurance companies only, and title insurance companies, whether incorporated under the laws of this Commonwealth, or any other state, territory, or district, or under the laws of any foreign country. Except where otherwise indicated, the word "association," as used in this act, shall be construed to include only individuals, partnerships or associations of individuals, authorized to engage in the business of insurance in the Commonwealth as insurers on the Lloyds plan. The word "exchange," as used in this act, shall be construed to include only individuals, partnerships and corporations, authorized by the laws of the Commonwealth to exchange with each other inter-insurance or reciprocal insurance contracts. (101 amended July 1, 1937, P.L.2529, No.468) Section 102. Short Title.--This act shall be known and may be cited as "The Insurance Company Law of 1921." Section 103. Scope of Act.--Except as in this act provided, the provisions of this act, in so far as they are applicable, shall apply: (a) To all domestic insurance companies incorporated under the provisions of this act; (b) to all domestic insurance companies incorporated under general or special laws since the thirteenth day of October, one thousand eight hundred and fifty-seven; (c) to all domestic insurance companies, heretofore incorporated, which have accepted the provisions of the Constitution and the general insurance laws enacted since the thirteenth day of October, one thousand eight hundred and fifty-seven; (d) to all domestic insurance companies, incorporated under any general or special law prior to the thirteenth day of October, one thousand eight hundred and fifty-seven, which, by the terms of their charters or the acts under which they were incorporated, hold charters subject to alteration or revocation; (e) to all other domestic insurance companies, incorporated by general or special law prior to the thirteenth day of October, one thousand eight hundred and fifty-seven, which accept the provisions of this act as hereinafter provided; (f) to all foreign insurance companies doing business in this Commonwealth; and (g) to all domestic and foreign associations and exchanges doing insurance business in this Commonwealth. All insurance companies to which this act applies and which have the required capital and reserve may transact any one or more of the classes of insurance authorized by section two hundred and two (202) of this act in the same manner and to the same extent as insurance companies incorporated under the provisions of this act. No insurance company heretofore created and to which this act applies shall be deprived of any right which it enjoys under its charter to engage in any business other than insurance. Nothing in this act shall be construed to interfere with the charter provisions or operations of