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PA Bulletin, Doc. No. 98-629

RULES AND REGULATIONS

Title 31--INSURANCE

INSURANCE DEPARTMENT

[31 PA. CODE CH. 73]

Corrective Amendment to 31 Pa. Code § 73.140(d)

[28 Pa.B. 1941]

   The Insurance Department has discovered a discrepancy between the agency text of 31 Pa. Code § 73.140(d) (relating to credit insurance on closed end variable interest loans), as deposited with the Legislative Reference Bureau and the official text published at 28 Pa.B. 1401 (March 21, 1998) and as scheduled to be published in the May, 1998 Pennsylvania Code Reporter (Master Transmittal Sheet No. 282). The words ''outstanding balance'' were inadvertently included in the published version.

   Therefore, under 45 Pa.C.S. § 901: The Insurance Department has deposited with the Legislative Reference Bureau a corrective amendment to 31 Pa. Code § 73.140(d). The corrective amendment to 31 Pa. Code § 73.140(d) is effective as of June 19, 1998.

   The correct version of 31 Pa. Code § 73.140(d) appears in Annex A, with ellipses referring to the existing text of the regulation.

Annex A

TITLE 31. INSURANCE

PART III. CREDIT INSURANCE

CHAPTER 73. CREDIT LIFE INSURANCE, CREDIT ACCIDENT AND HEALTH INSURANCE AND CREDIT UNEMPLOYMENT INSURANCE

§ 73.140. Credit insurance on closed end variable interest loans.

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   (d)  Benefit amount. Subject to any policy limitations, if premiums are payable on a single premium basis, the monthly A and H insurance benefit and the involuntary unemployment insurance benefit shall equal the amount of the original monthly installment payment. Subject to any policy limitations, if premiums are payable on a monthly basis, the monthly A and H and involuntary unemployment insurance benefits shall equal the amount of the monthly installment payment amount on the day disability or unemployment began.

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[Pa.B. Doc. No. 98-629. Filed for public inspection April 24, 1998, 9:00 a.m.]


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