Section 401.13. Coverage limits and premiums for insurance

(a) The maximum amount of insurance, the term or duration of the policy, and the premium rate will be determined by the Board.

(b) An insurance policy is effective upon the date a complete application and its premium are received by the Board or its agent and provided that the applicant and structure meet the eligibility requirements in the act and in § 401.11 (relating to eligibility for insurance).

The provisions of this § 401.13 adopted December 10, 1971, effective January 1, 1972, 1 Pa.B. 2288; amended May 3, 1974, effective May 4, 1974, 4 Pa.B. 880; amended October 4, 1974, effective October 5, 1974, 4 Pa.B. 2134; amended December 21, 1979, effective December 22, 1979, 9 Pa.B. 4163; amended August 6, 1993, effective August 7, 1993, 23 Pa.B. 3687; amended April 29, 2005, effective April 30, 2005, 35 Pa.B. 2628; corrected August 5, 2005, effective April 30, 2005, 35 Pa.B. 4309; amended December 11, 2009, effective December 12, 2009, 39 Pa.B. 6953. Immediately preceding text appears at serial page (312598).

Notation

Authority

The provisions of this § 401.13 amended under section 19 of the act of August 23, 1961 (P. L. 1068, No. 484) (52 P. S. § 3219).