reglab/statecodes huggingface dataset:
Pennsylvania Code › Title 28 - HEALTH AND SAFETY › Part IXa - MEDICAL MARIJUANA › Chapter 1230a - PRACTICE AND PROCEDURE › Subchapter A - PRELIMINARY PROVISIONS › TIME › Section 1230a.26 - Representation

Current through Register Vol. 54, No. 28, July 13, 2024
(a) A party, except
					 an individual appearing on their own behalf, shall be represented by an
					 attorney at all stages of the proceedings subsequent to the filing of the
					 Notice of Appeal or order to show cause.
(b) A corporation shall be represented by an
					 attorney of record admitted to practice before the Supreme Court of
					 Pennsylvania. A corporation may also be represented by an attorney in good
					 standing and admitted to practice before the highest court of another State on
					 a motion pro hac vice filed by the Pennsylvania attorney of record.
(c) A group of individuals acting in concert,
					 whether formally or informally, shall be represented by an attorney admitted to
					 practice law before the Supreme Court of Pennsylvania or by an attorney in good
					 standing admitted to practice before the highest court of another state who has
					 made a motion to appear pro hoc vice and has agreed in that motion to abide by
					 the rules and regulations of the Department and 204 Pa.Code Ch. 81 (relating to
					 Rules of Professional Conduct).
(d)
					 An individual may appear in person on his own behalf. The individual is
					 encouraged to appear through counsel. If the Department determines that the
					 individual is acting in concert with or as a representative of a group of
					 individuals, the individual may be required to appear through counsel under
					 subsection (c).
(e) Subsections
					 (a)-(d) supersede 1 Pa. Code §§
											31.21 -
					 31.23 (relating to appearance in
					 person; appearance by attorney; and other representation prohibited at
					 hearings).
Pennsylvania Code › Title 28 - HEALTH AND SAFETY › Part IXa - MEDICAL MARIJUANA › Chapter 1230a - PRACTICE AND PROCEDURE › Subchapter B - FORMAL PROCEEDINGS APPEALS › APPEALS › Section 1230a.38 - Commencement, form and content of Notice of Appeal

Current through Register Vol. 54, No. 28, July 13, 2024
(a) An appeal from an action of the Office
					 shall start with the filing of a Notice of Appeal with the
					 Department.
(b) The caption of a
					 Notice of Appeal must be in the following form:
Click
						here to view image
NOTICE OF APPEAL
(c) The Notice of Appeal must set forth the
					 name, mailing address, e-mail address, permit number or application number, if
					 one has been assigned, and telephone number of the appellant. If the appellant
					 is represented by an attorney, the Notice of Appeal shall be signed by at least
					 one attorney of record in the attorney's individual name.
(d) If the appellant has received written
					 notification of an action of the Office, a copy of the action must be attached
					 to the Notice of Appeal.
(e) The
					 Notice of Appeal must set forth in separate numbered paragraphs the specific
					 objections to the action of the Office. The objections may be factual or
					 legal.
(f) The Notice of Appeal
					 must be typewritten on lettersize paper (approximately 8 to 8 1/2 inches by 10
					 1/2 to 11 inches) and pages after the first must be numbered. Photocopies will
					 be accepted as typewritten, provided that the copies are legible. Failure to
					 comply with these requirements will not result in rejection or dismissal of the
					 Notice of Appeal. The Department may request that the appellant file an amended
					 version of the Notice of Appeal in proper form.
(g) The appellant shall, concurrent with or
					 prior to the filing of a Notice of Appeal, serve two copies on the Department's
					 Office of Legal Counsel in the same manner in which the Notice of Appeal is
					 filed with the Department.
(h)
					 Subsections (a)-(g) supersede 1 Pa. Code §§ 35.5-
					 35.7 and 35.20.
Pennsylvania Code › Title 28 - HEALTH AND SAFETY › Part IXa - MEDICAL MARIJUANA › Chapter 1230a - PRACTICE AND PROCEDURE › Subchapter B - FORMAL PROCEEDINGS APPEALS › APPEALS › Section 1230a.39 - Timeliness of Notice of Appeal

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 Jurisdiction of the Department will not attach to an appeal from an action of
					 the Office unless the Notice of Appeal is in writing and is timely filed with
					 the Department within 30 days after the mailing date on the written notice of
					 the action.
(b) An untimely Notice
					 of Appeal may be deemed an admission or may be dismissed with prejudice by the
					 Department.
(c) The Office may file
					 an answer and new matter to the Notice of Appeal within 30 days of its service
					 on the Office but is not required to do so.
(d) Subsection (a) supersedes 1 Pa. Code
					 §§ 35.5-35.7,
					 35.20 and 35.35.
Pennsylvania Code › Title 28 - HEALTH AND SAFETY › Part IXa - MEDICAL MARIJUANA › Chapter 1230a - PRACTICE AND PROCEDURE › Subchapter B - FORMAL PROCEEDINGS APPEALS › SPECIAL ACTIONS › Section 1230a.43 - Orders to show cause, orders or petitions filed by the Office

Current through Register Vol. 54, No. 28, July 13, 2024
(a) The Office may
					 start an action by filing an order to show cause, order or other petition filed
					 by the Office and a notice of a right to respond or defend. The action is begun
					 when the order to show cause, order or other petition of the Office is filed
					 with the Clerk.
(b) Service of the
					 order to show cause, order or other petition filed by the Office shall be by
					 personal service or by United States first class mail, postage prepaid. The
					 date of service shall be the date specified on the certificate of
					 service.
(c) An order to show cause
					 must set forth the authority under which the Department is authorized to act
					 and must set forth in separate numbered paragraphs the specific facts and
					 circumstances upon which the request for action is based.
(d) The notice of a right to respond or
					 defend shall conform substantially to the following format:
NOTICE
If you wish to defend against the claims set forth in the
						following pages, you must take action within 30 days after this order to show
						cause and notice are served by entering a written appearance personally or by
						attorney and filing in writing with the Clerk in accordance with §
												1230a.23 (relating to docket) your
						answers, defenses or objections to the claims set forth against you. You are
						warned that if you fail to do so, the case may proceed without you, and a
						judgment may be entered against you by the Department without further notice
						for any claim or relief requested by the Office. You should take this paper to
						your lawyer at once.
(e)
					 Subsections (a)-(d) supersede 1 Pa. Code §
											35.14 (relating to orders to show
					 cause).
Pennsylvania Code › Title 28 - HEALTH AND SAFETY › Part IXa - MEDICAL MARIJUANA › Chapter 1230a - PRACTICE AND PROCEDURE › Subchapter B - FORMAL PROCEEDINGS APPEALS › SPECIAL ACTIONS › Section 1230a.44 - Answers to orders to show cause, orders or other petitions filed by the Office

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Answers to
					 orders to show cause, orders or other petitions filed by the Office shall be
					 filed with the Clerk within 30 days after the date of service of the order to
					 show cause, order or other petition filed by the Office, unless, for cause, the
					 Department, with or without motion, prescribes a different time.
(b) Answers to orders to show cause, orders
					 or other petitions filed by the Office must set forth legal objections and any
					 denial of facts in a single pleading.
(c) Answers must be in writing and drafted as
					 to fully and completely advise the parties and the Department as to the nature
					 of the defense, including affirmative defenses. Answers must admit or deny
					 specifically and in detail each material allegation of the order to show cause,
					 order or petition filed by the Office, and state clearly and concisely the
					 facts and matters of law relied upon.
(d) A Respondent failing to file an answer
					 within the prescribed time will be deemed in default and, upon motion made as
					 set forth in §
											1230a.46 (relating to entry of
					 default judgment), all relevant facts in the order to show cause, order or
					 other petition filed by the Office may be deemed admitted, and default judgment
					 may be entered.
(e) New matter or
					 preliminary objections may not be filed. To the extent that new matter or
					 preliminary objections are filed, new matter or preliminary objections will be
					 deemed stricken.
(f) Subsections
					 (a)-(e) supersede 1 Pa. Code §
											35.37 (relating to answers to
					 orders to show cause).
Pennsylvania Code › Title 28 - HEALTH AND SAFETY › Part IXa - MEDICAL MARIJUANA › Chapter 1230a - PRACTICE AND PROCEDURE › Subchapter B - FORMAL PROCEEDINGS APPEALS › SPECIAL ACTIONS › Section 1230a.45 - Verifications and affidavits

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 Pleadings or other documents containing an averment of fact not appearing of
					 record in the action or containing a denial of fact shall be personally
					 verified by a party thereto or by an authorized officer of the party if a
					 corporation or other business entity. Verification means a signed written
					 statement of fact supported by oath or affirmation or made subject to the
					 penalties of
					 18 Pa.C.S. §
												4904
					 (relating to unsworn falsification to authorities). If verification is
					 required, notarization is not necessary.
(b) The verification form must comply
					 substantially with the following format:
VERIFICATION
I, ________________ , hereby state that the facts
						above
set forth are true and correct (or are true and correct
						to the best of my knowledge, information and belief). I understand that the
						statements herein are made subject to the penalties of
						18 Pa.C.S. §
													4904
						(relating to unsworn falsification to authorities).
___________________
Date
___________________
Signature
___________________
Printed Name
(c) When an affidavit is used, the form
					 should comply substantially with the following format:
AFFIDAVIT
I, ___________ (Affiant), being duly sworn (affirmed)
						according to law, depose and say that (I am authorized to make this affidavit
						on behalf of _____________ corporation/business entity, being the holder of the
						office of _______________ with that corporation/business entity, and that the
						facts above set forth are true and correct (or are true and correct to the best
						of my knowledge, information and belief).
____________________
(Signature of affiant)
Sworn and subscribed before me this _____day of
______,20 ____.
(Signature of official administering oath)
Pennsylvania Code › Title 28 - HEALTH AND SAFETY › Part IXa - MEDICAL MARIJUANA › Chapter 1230a - PRACTICE AND PROCEDURE › Subchapter B - FORMAL PROCEEDINGS APPEALS › SPECIAL ACTIONS › Section 1230a.46 - Entry of default judgment

Current through Register Vol. 54, No. 28, July 13, 2024
(a) The
					 Department, on motion of the Office, may enter default judgment against the
					 Respondent for failure to file within the required time an answer to an Order
					 to Show Cause, order or other petition allowed for under these regulations that
					 contains a notice of a right to respond or defend.
(b) The Respondent may answer the motion for
					 default judgment and request a hearing. If a request for a hearing on the
					 default judgment is made, the Department may not grant default judgment prior
					 to a hearing and the filing of an answer.
This section cited in 28 Pa. Code §
													1230a.44 (relating to answers to
						  orders to show cause, orders or other petitions filed by the
						  Office).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 11 - MISCELLANEOUS PROVISIONS › Section 11.2 - Charges made in filing or certifying records

Current through Register Vol. 54, No. 28, July 13, 2024
Section 211 of The Insurance Department Act of one thousand
					 nine hundred and twenty-one (40 P. S. §
											49) provides for a charge to be made for each
					 copy of a paper filed in the Department of 25¢ per page, and $10 for
					 certifying the copy. A similar charge will also be made for papers which are
					 prepared by the company, exchange, association or society itself and are
					 submitted to the Department for verification and certification.
The provisions of this §
												11.2 amended under sections 206,
						506, 612-A, 1501 and 1502 of The Administrative Code of 1929 (71 P. S.
						§§
													66,
						186,
						240-12A,
						411 and
						412); The Insurance Company
						Law of 1921 (40 P. S. §§
													341-991); and The Insurance Department Act of
						1921 (40 P. S. §§
													1-321).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 11 - MISCELLANEOUS PROVISIONS › Section 11.7 - Salvage and subrogation recovery expenses

Current through Register Vol. 54, No. 28, July 13, 2024
(a) This section prescribes accounting
				  practices for the classification and allocation of salvage and subrogation
				  recovery expenses in financial statements filed with the Insurance Commissioner
				  under sections 1 and 2 of the act of May 9, 1949 (P. L. 1025, No.
				  298)(40 P. S. §§
											1261-1264) and section 320 of The Insurance
				  Company Law of 1921 (40 P. S. §
											443).
(b) This section applies to all stock or
				  mutual insurance companies, associations, exchanges, employees mutual liability
				  associations and organizations, including The State Workmen's Insurance Fund,
				  which are subject to the Casualty and Surety Rate Regulatory Act (40 P. S.
				  §§
											1181-1199); The Fire, Marine and
				  Inland Marine Rate Regulatory Act (40 P. S. §§
											1221-1238); or section 654 (Workmen's
				  Compensation Insurance) of The Insurance Company Law of 1921 (40 P. S. §
											814). This section does not apply to insurers
				  authorized to write title insurance.
(c) If attention is given to salvage or
				  subrogation matters at the same time as the adjustment of the loss is
				  proceeding, no attempt need be made to allocate any portion of the time of the
				  adjuster to salvage or subrogation expense.
(d) If the salvage or subrogation activity
				  follows the adjustment of the loss, such additional time as may be required
				  shall be treated as salvage expense.
(e) Any items of outside service, such as
				  advertising, expenses of outside organizations, or rewards, shall be treated as
				  salvage expense.
(f) The cost of
				  recovering stolen goods when incurred by the insurer shall be treated as
				  salvage expense.
(g) If salvage is
				  handled by outside agencies, their billing shall be made directly to the
				  companies and sufficient information given for proper classification of the
				  related expenses.
The provisions of this §
												11.7 amended under sections 206,
						506, 1501 and 1502 of The Administrative Code of 1929 (71 P. S.
						§§
													66,
						186,
						411 and
						412); sections 1 and 2 of the
						act of May 9, 1949 (P. L. 1025, No. 289)(40 P. S.
						§§
													1261 and
						1262); and section 320(a) of
						The Insurance Company Law of 1921 (40 P. S. §
													443(a)).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 12 - COST OF INSURANCE DEPARTMENT EXAMINATIONS › Section 12.1 - Purpose

Current through Register Vol. 54, No. 28, July 13, 2024
The Department is responsible for the conduct of
					 examinations of insurers and other entities subject to its administrative or
					 regulatory authority under Article IX of the act (40 P. S. §§
											323.1-323.8). Examinations are conducted to
					 verify the financial condition of the examinee and ascertain whether the
					 examinee has complied with the laws of the Commonwealth. Section 907 of the act
					 (40
					 P. S. §
											323.7) provides that the
					 expenses incurred in and about the examination of an entity, including
					 compensation of Department employees assisting in an examination and other
					 professionals or specialists retained as examiners, shall be charged to and
					 paid by the examinee. This chapter specifies the types of examination costs
					 charged to examinees and the manner in which amounts charged are
					 determined.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 12 - COST OF INSURANCE DEPARTMENT EXAMINATIONS › Section 12.2 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
In addition to the terms defined in section 902 of the act
					 (40
					 P. S. §
											323.2), the following words and
					 terms, when used in this chapter, have the following meanings, unless the
					 context clearly indicates otherwise:
Act
-The Insurance Department Act of 1921
					 (40
					 P. S. §§
											1-297.4).
Department
-The Insurance Department of the
					 Commonwealth.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 12 - COST OF INSURANCE DEPARTMENT EXAMINATIONS › Section 12.3 - Scope

Current through Register Vol. 54, No. 28, July 13, 2024
This chapter applies to every company subject to
					 examination under section 903 of the act (40 P. S. §
											323.3).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 12 - COST OF INSURANCE DEPARTMENT EXAMINATIONS › Section 12.4 - Per diem charges

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Per diem
				  charges for Department examinations, including financial examinations, market
				  conduct examinations and examinations of companies subject to summary
				  proceedings, will be updated annually and published in the
Pennsylvania
				  Bulletin
according to the following classifications:
(1) Examiner Trainee.
(2) Examiner 1.
(3) Examiner 2.
(4) Examiner 3.
(5) Examination Manager.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 12 - COST OF INSURANCE DEPARTMENT EXAMINATIONS › Section 12.5 - Travel, lodging and food expenses

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
				  In addition to per diem charges, the travel, lodging and food expenses of
				  Department examiners, other Department employes assisting in the examination
				  and other professionals or specialists retained as examiners will be charged to
				  and paid by the examinee.
(b)
				  Charges for travel, lodging and food expenses of Department examiners and
				  employes will be made in accordance with the rules governing employes of the
				  Commonwealth. Charges for travel, lodging and food expenses of other
				  professionals or specialists will be made in accordance with provisions set
				  forth in letters of engagement.
This section cited in 31 Pa. Code §
												12.7 (relating to general
						procedures related to costs of
						examination).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 12 - COST OF INSURANCE DEPARTMENT EXAMINATIONS › Section 12.6 - Charges for offsite examination work

Current through Register Vol. 54, No. 28, July 13, 2024
Charges referred to in this chapter are payable by the
					 examinee for the time period in which a Department examiner, another Department
					 employe or another professional or specialist is engaged in examination work
					 pertaining to that examinee, regardless of whether the examiner, employe or
					 other professional or specialist is physically present at the examinee's
					 business site.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart A - Uniform Classification of Expenses › Chapter 12 - COST OF INSURANCE DEPARTMENT EXAMINATIONS › Section 12.7 - General procedures related to costs of examinations

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Prior to or contemporaneous with
				  commencement of an examination, the Department will disclose to each examinee
				  the general information relating to how the examination will be conducted and
				  how it will impact the examinee. The information will include, for example,
				  whether examiners conducting the examination will be lodged near the examinee's
				  site or travel daily from home or headquarters, consistent with Commonwealth
				  rules on these matters.
(b)
				  Billings for examination costs will reflect a cost category for per diem
				  charges as set forth in §
										12.4 (relating to per diem
				  charges) and a cost category for travel, lodging and food expense as set forth
				  in §
										12.5 (relating to travel, lodging
				  and food expenses). Additional detail on costs billed for expenses will be
				  available upon request by examinees.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter A - GENERAL PROVISIONS › Section 21.1 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this chapter,
						have the following meanings, unless the context clearly indicates
						otherwise:
Act
-The Insurance Company Law of 1921
						(40
						P. S. §
												361 et seq.).
Class
-All securities of an insurer which
						are of substantially similar character, and the holders of which enjoy
						substantially similar rights and privileges.
Department
-The Insurance Department of
						the Commonwealth.
Equity security
-Any stock or similar
						security, or any voting trust certificate or certificate of deposit for such a
						security. The term includes any security with or without consideration, which
						is convertible into a stock or similar security, or carrying any warrant or
						right to subscribe to or purchase such a security, or any such warrant or
						right.
Insurer
-Any domestic stock insurance
						company with an equity security subject to the provisions of section
						302.1 of act of May 17, 1921 (P.
						L. 682) (40 P. S. §
												422.1), and
						not exempt under these provisions.
Officer
-A president, vice president,
						treasurer, actuary, secretary, controller or any other person who performs for
						the insurer functions corresponding to those performed by such officers.
Securities held of record
-For the
						purpose of determining whether the equity securities of an insurer are held of
						record by 100 or more persons, securities shall be deemed to be "held of
						record" by each person who is identified as the owner of such securities on
						records of security holders maintained by or on behalf of the insurer, subject
						to §
											21.2 (relating to securities held
						of record).
This section cited in 31 Pa. Code §
													21.22 (relating to certain stock
						  options and acquisitions).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter A - GENERAL PROVISIONS › Section 21.2 - Securities held of record

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 Securities held of record shall be subject to all of the following:
(1) In any case where the records of security
					 holders have not been maintained in accordance with accepted practice, any
					 additional person who would be identified as an owner on such records if the
					 records had been maintained in accordance with accepted practice shall be
					 included as a holder of record.
(2)
					 Securities identified as held of record by a corporation, a partnership, a
					 trust, whether or not the trustees are named, or any other organizations shall
					 be included as held by one person.
(3) Securities identified as held of record
					 by one or more persons as trustees, executors, guardians, custodians or in
					 other fiduciary capacities with respect to a single trust, estate or account
					 shall be included as held of record by one person.
(4) Securities held by two or more persons as
					 co-owners shall be included as held by one person.
(5) Each outstanding unregistered or bearer
					 certificate shall be included as held of record by a separate person, except to
					 the extent that the insurer can establish that if the securities were
					 registered they would be held of record, under this chapter, by a lesser number
					 of persons.
(6) Securities
					 registered in substantially similar names, where the insurer has reason to
					 believe because of the address or other indications that the names represent
					 the same person, may be included as held of record by one person.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter A - GENERAL PROVISIONS › Section 21.3 - Transactions exempted by time

Current through Register Vol. 54, No. 28, July 13, 2024
Any acquisition or disposition or any equity security by
						a director or officer of an insurer within 6 months prior to the date on which
						the act first becomes applicable with respect to such insurer's equity
						securities, shall not be subject to the operation of section 302.1(2) of the
						act (40 P. S. §
												422.1(2)).
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.11 - Filing of statements

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Initial
					 statements of beneficial ownership of equity securities required by section
					 302.1 of the act (40 P. S. §
												422.1) shall
					 be filed on IDIT-001 (Form 1) as shown in Subchapter F (relating to statement
					 forms).
(b) Statements of changes
					 in such beneficial ownership required by section 302.1(1) of the act
					 (40
					 P. S. §
												422.1) shall be filed on
					 IDIT-002 (Form 2) as shown in Subchapter F.
(c) All the statements shall be prepared and
					 filed in accordance with the requirements of the applicable forms.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.12 - Ownership of over 10% of equity securities

Current through Register Vol. 54, No. 28, July 13, 2024
(a) In determining, for the purpose of
					 section 302.1(1) of the
					 act (40 P. S. §
												422.1(1)), whether a person
					 is the beneficial owner directly or indirectly of more than 10% of any class of
					 any equity security, that class shall be deemed to consist of the total amount
					 of the class outstanding, exclusive of any securities of the class held by or
					 for the account of the insurer or a subsidiary of the insurer, except that for
					 the purpose of determining percentage ownership of voting trust certificates or
					 certificates of deposit for equity securities, the class of voting trust
					 certificates or certificates of deposit shall be deemed to consist of the
					 amount of voting trust certificates or certificates of deposit issuable with
					 respect to the total amount of outstanding equity securities of the class which
					 may be deposited under the voting trust agreement or deposit agreement in
					 question, whether or not all of the outstanding securities have been so
					 deposited.
(b) For the purpose of
					 subsection (a), a person acting in good faith may rely on the information
					 contained in the latest Convention Form Statement filed with the Department
					 with respect to the amount of securities of a class outstanding or, in the case
					 of voting trust certificates or certificates of deposit, the amount issuable
					 thereof.
(c) In determining, for
					 the purpose of section
					 302.1(1) of the
					 act whether a person is the beneficial owner, directly or indirectly, of more
					 than 10% of any class of equity securities, the person shall be deemed to be
					 the beneficial owner of securities of the class which the person has the right
					 to acquire through the exercise of presently exercisable options, warrants or
					 rights or through the conversion of presently convertible securities. The
					 securities subject to the options, warrants, rights or conversion privileges
					 held by a person shall be deemed to be outstanding for the purpose of
					 computing, in accordance with subsection (a), the percentage of outstanding
					 securities of the class owned by the person but shall not be deemed outstanding
					 for the purpose of computing the percentage of the class owned by any other
					 person. This subsection shall not be construed to relieve any person of any
					 duty to comply with section
					 302.1(1) of the
					 act with respect to any equity securities consisting of options, warrants,
					 rights, or convertible securities which are otherwise subject as a class to
					 that section of the act.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.13 - Disclaimer of beneficial ownership

Current through Register Vol. 54, No. 28, July 13, 2024
Any person filing a statement may expressly declare
						therein that the filing of the statement shall not be construed as an admission
						that the person is, for the purpose of the act, the beneficial owner of any
						equity securities covered by the statement.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.14 - Persons not required to file a statement

Current through Register Vol. 54, No. 28, July 13, 2024
(a) During a period of 12 months following
					 the appointment and qualification of the following persons, securities held by
					 the persons shall be exempt from section
					 302.1(1) and (2)
					 of the act (40 P. S. §
												422.1(1) and
					 (2)):
(1)
					 Executors or administrators of the estate of a decedent.
(2) Guardians or committees for an
					 incompetent.
(3) Receivers,
					 trustees in bankruptcy, assignees for the benefit of creditors, conservators,
					 liquidating agents and other similar persons duly authorized by law to
					 administer the estate or assets of other persons.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.15 - Exemptions for purchases and sales by odd-lot dealers

Current through Register Vol. 54, No. 28, July 13, 2024
Securities purchased or sold by odd-lot dealers in odd
						lots, so far as reasonably necessary to carry on odd-lot transactions, or in
						round lots to offset odd-lot transactions previously or simultaneously executed
						or reasonably anticipated in the usual course of business, shall be exempt from
						the provisions of the act with respect to participation by the odd-lot dealer
						in the transactions.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.16 - Transactions necessitating filing

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 The acquisition or disposition of any transferable option, put, call, spread or
					 straddle shall be deemed such a change in the beneficial ownership of the
					 security to which the privilege relates as to require the filing of a statement
					 reflecting the acquisition or disposition of the privilege, as required by
					 section 302.1(1) of the act (40 P. S. §
												422.1(1)).
(b) Nothing in subsection (a) shall exempt
					 any person from filing the statements required upon the exercise of the option,
					 put, call, spread or straddle.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.17 - Ownership of securities held in trust

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Beneficial ownership of a security for
					 the purpose of section
					 302.1(1) of the
					 act (40 P. S. §
												422.1(1)) shall include all
					 of the following:
(1) Ownership of securities
					 as a trustee where either the trustee or members of his immediate family have a
					 vested interest in the income or corpus of the trust.
(2) Ownership of a vested beneficial interest
					 in a trust.
(3) Ownership of
					 securities as a settlor of a trust in which the settlor has the power to revoke
					 the trust without obtaining the consent of all the beneficiaries.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.18 - Exemptions for small transactions

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
					 Any acquisition of securities shall be exempt from section
					 302.1(1) of the
					 act (40 P. S. §
												422.1(1)) if the person
					 effecting the acquisition does not:
(1)
					 Within 6 months thereafter effect any disposition, otherwise than by way of
					 gift, of securities of the same class.
(2) Participate in acquisitions or in
					 dispositions of securities of the same class having a total market value in
					 excess of $3,000 for any 6-month period during which the acquisition
					 occurs.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter B - INITIAL STATEMENTS OF BENEFICIAL OWNERSHIP › Section 21.19 - Double exemptions

Current through Register Vol. 54, No. 28, July 13, 2024
Any transaction which has been or shall be exempted from
						the requirements of section 302.1(1) of the act (40 P. S. §
												422.1) shall be likewise exempted from
						section 302.1(2) of the act.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter C - EXEMPTIONS UNDER SECTION 302.1(2) OF THE ACT › Section 21.31 - Distribution transactions

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Any
					 transaction of purchase and sale, or sale and purchase, of a security which is
					 effected in connection with the distribution of a substantial block of
					 securities, shall be exempt from the provisions of section
					 302.1(2) of the
					 act (40 P. S. §
												422.1(2)) to the extent
					 specified in this section upon the following conditions:
(1) The person effecting the transaction
					 shall be engaged in the business of distributing securities and shall be
					 participating in good faith in the ordinary course of the business in the
					 distribution of the block of securities.
(2) The security involved in the transaction
					 shall be one of the following:
(i) A part of
					 the block of securities, and shall be acquired by the person effecting the
					 transaction with a view to the distribution thereof, from the insurer or other
					 person on whose behalf the securities are being distributed or from a person
					 who is participating in good faith in the distribution of the block of
					 securities.
(ii) A security
					 purchased in good faith by or for the account of the person effecting the
					 transaction for the purpose of stabilizing the market price of securities of
					 the class being distributed or to cover an over-allotment or other short
					 position created in connection with the distribution.
(3) Other persons not within the purview of
					 section 302.1(2) of the
					 act shall participate in the distribution of the block of securities on terms
					 at least as favorable as those on which the person is participating and to an
					 extent at least equal to the aggregate participation of all persons exempted
					 from the act by this section. The performance of the functions of manager of a
					 distributing group, however, and the receipt of a bona fide payment for
					 performing such functions shall not preclude an exemption which would otherwise
					 be available under this section.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter C - EXEMPTIONS UNDER SECTION 302.1(2) OF THE ACT › Section 21.33 - Securities received by redeeming other securities

Current through Register Vol. 54, No. 28, July 13, 2024
Any acquisition of an equity security, other than a
						convertible security of right to purchase a security director or officer of the
						insurer issuing the security shall be exempt from the operation of section
						302.1(2) of the act (40 P. S. §
												422.1(2)) provided all of
						the following apply:
(1) The equity
					 security is acquired by way of redemption of another security of an insurer
					 substantially all of whose assets other than cash (or Government bonds) consist
					 of securities of the insurer issuing the equity security so acquired, and
					 which:
(i) Represented substantially and in
					 practical effect a stated or readily ascertainable amount of such equity
					 security.
(ii) Had a value which
					 was substantially determined by the value of such equity security.
(iii) Conferred upon the holder the right to
					 receive the equity security without the payment of any consideration other than
					 the security redeemed.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter C - EXEMPTIONS UNDER SECTION 302.1(2) OF THE ACT › Section 21.34 - Long-term profits incident to options

Current through Register Vol. 54, No. 28, July 13, 2024
(a) The following provisions apply to
					 long-term profits incident to options:
(1) To
					 the extent specified in subsection (b), the Insurance Commissioner exempts as
					 not comprehended within the purposes of section
					 302.1(2) of the
					 act (40 P. S. §
													422.1(2)) any transaction or
					 transactions involving the purchase and sale, or sale and purchase, of any
					 equity security if such purchase is pursuant to the exercise of an option or
					 similar right acquired more than six months before its exercise, or acquired
					 pursuant to the terms of an employment contract entered into more than 6 months
					 before its exercise.
(2) The
					 profits inuring to the insurer in the transactions may not exceed the
					 difference between the proceeds of sale and the lowest market price of any
					 security of the same class within 6 months before or after the date of
					 sale.
(3) Nothing in this
					 subsection shall be deemed to enlarge the amount of profit which would inure to
					 the insurer in the absence of this section.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter C - EXEMPTIONS UNDER SECTION 302.1(2) OF THE ACT › Section 21.35 - Acquisitions and dispositions pursuant to mergers and consolidations

Current through Register Vol. 54, No. 28, July 13, 2024
(a) As used in this
					 section, the term "merger" shall include the sale or purchase of substantially
					 all the assets of one insurer by another in exchange for stock which is then
					 distributed to the security holders of the insurer which sold its
					 assets.
(b) The following
					 transactions shall be exempt from section 302.1(2) of the act (40 P. S. §
												422.1(2)):
(1) The acquisition of a security of an
					 insurer under a merger or consolidation and in exchange for a security of a
					 company which prior to the merger or consolidation owned 85% or more of the
					 equity securities of all other companies involved in the merger or
					 consolidation except, in the case of consolidation, the resulting
					 company.
(2) The disposition of a
					 security under a merger or consolidation of an insurer which prior to the
					 merger or consolidation owned 85% or more of the equity securities of all other
					 companies involved in the merger or consolidation except, in the case of
					 consolidation, the resulting company.
(3) The acquisition of a security of an
					 insurer pursuant to a merger or consolidation and in exchange for a security of
					 a company which prior to such merger or consolidation held over 85% of the
					 combined assets of all the companies undergoing merger or consolidation,
					 computed according to their book values prior to the merger or consolidation,
					 as determined by reference to their most recent available financial statements
					 for a 12-month period prior to the merger or consolidation.
(4) The disposition of a security under a
					 merger or consolidation of an insurer which prior to the merger or
					 consolidation held 85% or more of the equity securities of all other companies
					 involved in the merger or consolidation according to their book value prior to
					 merger or consolidation, as determined by reference to their most recent
					 available financial statements for a 12-month period prior to the merger or
					 consolidation.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter C - EXEMPTIONS UNDER SECTION 302.1(2) OF THE ACT › Section 21.36 - Deposit or withdrawal of equity securities

Current through Register Vol. 54, No. 28, July 13, 2024
Any acquisition or disposition of an equity security
						involved in the deposit of the security under, or the withdrawal of the
						security from, a voting trust or deposit agreement, and the acquisition or
						disposition in connection therewith of the certificate representing the
						security, shall be exempt from the operation of section
						302.1(2) of the
						act (40 P. S. §
												422.1(2)), if substantially
						all of the assets held under the voting trust or deposit agreement immediately
						after the deposit or immediately prior to the withdrawal, as the case may be,
						consisted of equity securities of the same class as the security deposited or
						withdrawn, provided that this section does not apply to the extent that there
						shall have been either a purchase of an equity security of the class deposited
						and a sale or any certificate representing an equity security of the class, or
						a sale of an equity security of the class deposited and purchase of any
						certificate representing an equity security of the class (otherwise than in a
						transaction involved in the deposit or withdrawal or in a transaction exempted
						by another provision of the regulations under section
						302.1(2) of the
						act within a period of less than 6 months, which includes the date of the
						deposit or withdrawal.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter C - EXEMPTIONS UNDER SECTION 302.1(2) OF THE ACT › Section 21.37 - Conversion of equity securities

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
Acquisition and disposition.
For the purpose of this section,
					 an equity security may not be deemed to be acquired or disposed of upon
					 conversion of an equity security if the terms of the equity security converted
					 require the payment or entail the receipt, in connection with such conversion,
					 of cash or other property (other than equity securities involved in the
					 conversion) equal in value at the time of conversion to more than 15% of the
					 value of the equity security issued upon conversion.
(b)
Exemption.
Any
					 acquisition or disposition of an equity security involved in the conversion of
					 an equity security which by its terms or pursuant to the terms of the insurer's
					 charter or other governing instruments, is convertible immediately or after a
					 stated period of time into another equity security of the same insurer, shall
					 be exempt from the operation of section
					 302.1(2) of the
					 act. This exemption, however, shall not apply to the extent that there shall
					 have been either of the following:
(1) A
					 purchase of an equity of the class convertible (including any acquisition of or
					 change in a conversion privilege) and a sale of any equity security of the
					 class issuable upon conversion.
(2)
					 A sale of any equity security of the class convertible and any purchase of any
					 equity security issuable upon conversion (otherwise than in a transaction
					 involved in the conversion or in a transaction exempted by any other provision
					 of the regulations under section
					 302.1(2) of the
					 act within a period of less than 6 months including the date of
					 conversion.
Pennsylvania Code › Title 31 - INSURANCE › Part I - General Provisions › Subpart B - Securities and Stock Transactions › Chapter 21 - STOCK OWNERSHIP STATEMENTS › Subchapter C - EXEMPTIONS UNDER SECTION 302.1(2) OF THE ACT › Section 21.38 - Transactions involving sale of subscription rights

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
Definitions.
The
					 following words and terms, when used in this section, have the following
					 meanings, unless the context clearly indicates otherwise:
Beneficiary security
-A security
						registered pursuant to section 12 of the Securities Exchange Act (15 U.S.C.A. §
													77l), to the holders of which a subscription
						right is granted.
Subscription right
-Any warrant or
						certificate evidencing a right to subscribe to or otherwise acquire an equity
						security.
Subscription security
-A security which
						is the subject of a subscription right.
(b)
Exemptions from section 302.1(2)
					 of the act (40 P. S. §
													422.1(2)).
Any sale
					 of a subscription right to acquire any subject security of the same insurer
					 shall be exempt from the provisions of section
					 302.1(2) of the
					 act, to the extent prescribed in this section, if any of the following occur:
(1) The subscription right is acquired,
					 directly or indirectly, from the insurer without the payment of
					 consideration.
(2) The subscription
					 right by its term expires within 45 days after the issuance thereof.
(3) The subscription right by its terms is
					 issued on a pro rata basis to all holders of the beneficiary security of the
					 insurer.
(4) A registration
					 statement under the Securities Act of 1933 (15 U.S.C.A. §
													77a et seq.) is in effect as to each subject
					 security, or the applicable terms of any exemption from such registration have
					 been met in respect to each subject security.