§ 87.5. Profit-sharing policy prohibited.

 (a)  Profit-sharing policies are not permitted by statute and no profit-sharing policy will be approved for use and no profit-sharing policy heretofore approved shall be issued or delivered in this Commonwealth on or after February 26, 1968.

 (b)  Nothing contained in subsection (a) is intended to apply to variable annuity contracts to the extent that such are permitted under the laws of the Commonwealth and prescribed in Chapter 85 (relating to variable annuity and variable accumulation annuity contracts).

---

No part of the information on this site may be reproduced for profit or sold for profit.

This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.