§ 113.207. Insurance.
The volunteer company shall maintain insurance in form and substance satisfactory to and in amounts required by the OSFC, evidenced by a certificate of insurance furnished by the volunteer company for the benefit of the OSFC, other encumbrance holders and the volunteer company, including a representation without limitation that, if a portion of the proceeds of the loan is used by the volunteer company for the purchase or rehabilitation of a motor vehicle, the volunteer company shall maintain liability insurance under the laws of the Commonwealth and collision insurance designating the OSFC and any other encumbrance holder as loss payee on the policy. The certificate of insurance shall contain a statement or rider that the insurance company shall give the OSFC 30 days advance notice whenever the amount of insurance coverage or other terms of the insurance are modified or cancelled.
Source The provisions of this § 113.207 adopted December 23, 1982, effective December 25, 1982, 12 Pa.B. 4333; amended December 18, 1992, effective December 19, 1992, 22 Pa.B. 6019. Immediately preceding text appears at serial page (153428).
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