40 Pa. Stat. § 221.7-B

Current through Pa Acts 2024-53, 2024-56 through 2024-92

Section 221.7-B - Authorized control level event

In the event of an authorized control level event, the department shall:

(1) Take all action required under section 506-B for a regulatory action level event.

(2) If the commissioner deems it to be in the best interest of the policyholders and creditors of the health organization and the public, take action necessary to place the health organization under regulatory control under Article V. The authorized control level event shall be sufficient grounds to place the health organization under regulatory control under Article V.

40 P.S. § 221.7-B

1921, May 17, P.L. 789, No. 285, § 221.7-B, added 2000, June 22, P.L. 457, No. 62, § 1, imd. effective.