Section 148a.2. Permissible methods of holding securities

Latest version.

(a) An insurer may hold its securities in definitive certificates.
(b) An insurer may provide for its securities to be held by a custodian under a custodial agreement as required under § 148a.3 (relating to requirements for custodial agreements). Securities held under a custodial agreement shall be held by:
(1) The custodian.
(2) The custodian’s agent.
(3) A clearing corporation.
(4) The Federal Reserve book-entry system.
(c) An insurer’s investment company securities may be held by the investment company that issued the investment company securities as required under § 148a.4 (relating to requirements for investment company securities).
(d) An insurer may provide for its securities to be held as required by a state treasurer or other state regulatory authority to meet deposit requirements as a condition of doing business in that state.

Notation

Cross References

This section cited in 31 Pa. Code § 148a.3 (relating to requirements for custodial agreements).

                    
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