15 Pa.C.S. Ch. 31

in effect

15 Pa.C.S. § 3101 Application and effect of chapter.

(a) General rule.--This chapter shall be applicable to a business corporation that is a domestic insurance corporation. (b) Application to business corporations generally.--The existence of a provision of this chapter shall not of itself create any implication that a contrary or different rule of law is or would be applicable to a business corporation that is not an insurance corporation. This chapter shall not affect any statute or rule of law that is or would be applicable to a business corporation that is not an insurance corporation. (c) Laws applicable to insurance corporations.--Except as otherwise provided in this chapter, Part I (relating to preliminary provisions) and this subpart shall be generally applicable to all insurance corporations. The specific provisions of this chapter shall control over the general provisions of Part I and this subpart. Except as otherwise provided in this article, an insurance corporation may be simultaneously subject to this chapter and one or more other chapters of this article. (Oct. 22, 2014, P.L.2640, No.172, eff. July 1, 2015) 2014 Amendment. Act 172 amended subsec. (c).

15 Pa.C.S. § 3102 Definitions.

The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Insurance corporation" or "domestic insurance corporation." A domestic business corporation that is engaged in the business of writing insurance or reinsurance as principal and as such is subject to regulation by the Insurance Department. "Mutual insurance company." An insurance corporation that is organized on the mutual principle. Cross References. Section 3102 is referred to in sections 102, 1103, 1929.1 of this title.

15 Pa.C.S. § 3121 Bylaws.

Except as provided in section 1504(b) (relating to adoption, amendment and contents of bylaws), the board of directors of an insurance corporation shall have the authority to adopt, amend and repeal bylaws, subject to the power of the members to change such action. The articles may restrict the authority of the board to adopt, amend or repeal bylaws generally or on any subject or class of subjects.

15 Pa.C.S. § 3122 Distributions by insurance corporations.

The amount of capital received by an insurance corporation upon its stock shall be a liability of the corporation for the purpose of determining the power of the corporation to make any distribution of money or other assets to its shareholders or members. Cross References. Section 3122 is referred to in section 1551 of this title.

15 Pa.C.S. § 3131 Directors.

(a) Qualifications.--Two-thirds of the directors of an insurance corporation shall be citizens of the United States. (b) Number.--The board of directors of an insurance corporation shall consist of not less than seven members. Cross References. Section 3131 is referred to in sections 1722, 1723 of this title.

15 Pa.C.S. § 3132 Officers.

The treasurer of an insurance corporation shall be a natural person of full age and may also be either the president or the secretary of the corporation. The president shall be a director of the corporation. (Dec. 7, 1994, P.L.703, No.106, eff. 60 days)

15 Pa.C.S. § 3133 Notice of meetings of members of mutual insurance companies.

(a) General rule.--Unless otherwise restricted in the bylaws, persons authorized or required to give notice of an annual meeting of members of a mutual insurance company for the election of directors or of a meeting of members of a mutual insurance company called for the purpose of considering amendment of the articles or bylaws, or both, of the corporation may, in lieu of any notice of meeting of members required to be given by this subpart, give notice of such meeting by causing notice of such meeting to be officially published. Such notice shall be published each week for at least: (1) Three successive weeks, in the case of an annual meeting. (2) Four successive weeks, in the case of a meeting to consider amendment of the articles or bylaws, or both. (b) Cross reference.--See 1 Pa.C.S. § 1909 (relating to time; publication for successive weeks). (June 22, 2001, P.L.418, No.34, eff. 60 days; July 9, 2013, P.L.476, No.67, eff. 60 days) 2013 Amendment. Act 67 amended subsec. (a) intro. par. 2001 Amendment. Act 34 amended subsec. (a). Cross References. Section 3133 is referred to in section 1702 of this title.

15 Pa.C.S. § 3134 Quorum at shareholder or member meetings.

The board of directors of an insurance corporation may adopt or change a bylaw on any subject otherwise expressly committed to the shareholders or members by section 1756(a) (relating to quorum). Cross References. Section 3134 is referred to in section 1756 of this title.

15 Pa.C.S. § 3135 Proxies of members of mutual insurance companies.

In no event shall a proxy given by a member of a mutual insurance company, unless coupled with an interest, be voted on or utilized to express consent or dissent to corporate action after 11 months from the date of execution of the proxy. (July 9, 2013, P.L.476, No.67, eff. 60 days) Cross References. Section 3135 is referred to in section 1759 of this title.

15 Pa.C.S. § 3136 Judges of election.

The board of directors of an insurance corporation may adopt or change a bylaw on any subject otherwise expressly committed to the shareholders or members by section 1765 (relating to judges of election). Cross References. Section 3136 is referred to in section 1765 of this title.

15 Pa.C.S. § 3137 Appointment of custodian.

Section 1767 (relating to appointment of custodian of corporation on deadlock or other cause) shall not be applicable to an insurance corporation. Cross References. Section 3137 is referred to in section 1767 of this title.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM&ttl=15Fetched: 10/16/2026