Termination of Insurance Agency Contracts or Accounts (property and casualty), complete act (40 P.S. 241 and following)
Pennsylvania Act of Sept. 22, 1978, P.L. 763, No. 143
Edition and licensing notes
Publisher. Pennsylvania General Assembly, Legislative Data Processing Center (legis.state.pa.us)
Edition. Unconsolidated Statutes of Pennsylvania as published by the Legislative Data Processing Center; the page carries a revision stamp of "2013-03-22 05:00:13 PM" and the palegis.us law-information page for the act shows no amending legislation.
Status. US state statute; public domain.
What this document is
Pennsylvania Act of Sept. 22, 1978, P.L. 763, No. 143 - Termination of Insurance Agency Contracts or Accounts (property and casualty), complete act (40 P.S. 241 and following) is a state statute published by Pennsylvania General Assembly, Legislative Data Processing Center (legis.state.pa.us). It is one of the Pennsylvania documents that insurance license exam questions are written from, including pennsylvania property & casualty, pennsylvania personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.
Sections cited in practice questions
Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.
- Act of September 22, 1978 (P.L. 763, No. 143), Section 2(f)(5) (Cancellation of contract; rehabilitation)
“(5) Compliance with the rehabilitation program and attainment of the rehabilitation goals shall bar termination of the agency solely due to adverse experience, mix of business or lack of premium volume.”
- Act of September 22, 1978 (P.L. 763, No. 143), Section 2(a) (Cancellation of contract; notice)
“No insurer shall terminate its contract with an agent without first providing such agent and the Insurance Commissioner with written notification at least 90 days prior to the date of termination.”
- Act of September 22, 1978 (P.L. 763, No. 143), Section 3(b) (Continuation of business; commissions)
“(b) Commissions.--The terminated agent or an agent under rehabilitation shall be entitled to receive commissions on account of all business continued or written pursuant to this subsection in accordance with the commission rates in such agent's agreement.”
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