§ 61.3. Qualification of insurance companies.
A foreign corporation for profit which engages in the business of writing insurance as principal is a foreign business corporation and, before it does business in this Commonwealth, shall qualify as follows:
(1) If the corporation intends to limit its activities in this Commonwealth to business other than writing insurance as principal, the corporation shall file Form DSCB:15-4124 (Application for a Certificate of Authority-Foreign Corporation).
(2) In other cases, the corporation shall qualify through the Insurance Department. Sections 1103 and 4121(c) of the BCL (relating to definitions; and admission of foreign corporations) provide that a foreign corporation for profit which is qualified to do business in this Commonwealth under The Insurance Department Act of 1921 (40 P. S. § § 1—297.4), is thereby a qualified foreign business corporation and is not required to procure a separate certificate of authority to do business in this Commonwealth from the Department.
Source The provisions of this § 61.3 adopted April 17, 1992, effective April 18, 1992, 22 Pa.B. 1993.
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