PRINTER'S NO. 1423
No. 1232 Session of 1975
INTRODUCED BY REED, KOWALYSHYN, GIAMMARCO, DiDONATO, TAYOUN,
BERLIN, A. P. KELLY, PRATT, MILLIRON AND McLANE, MAY 6, 1975
REFERRED TO COMMITTEE ON CONSUMER PROTECTION, MAY 7, 1975
AN ACT
1 Amending the act of May 17, 1921 (P.L.682, No.284), entitled "An
2 act relating to insurance; amending, revising, and
3 consolidating the law providing for the incorporation of
4 insurance companies, and the regulation, supervision, and
5 protection of home and foreign insurance companies, Lloyds
6 associations, reciprocal and inter-insurance exchanges, and
7 fire insurance rating bureaus, and the regulation and
8 supervision of insurance carried by such companies,
9 associations, and exchanges, including insurance carried by
10 the State Workmen's Insurance Fund; providing penalties; and
11 repealing existing laws," requiring fire insurance companies
12 to report to municipalities payments for fire losses to
13 buildings therein.
14 The General Assembly of the Commonwealth of Pennsylvania
15 hereby enacts as follows:
16 Section 1. The act of May 17, 1921 (P.L.682, No.284), known
17 as "The Insurance Company Law of 1921," is amended by adding a
18 section to read:
19 Section 553. Companies to Report Certain Payments for Fire
20 Losses.--A fire insurance company shall report to a municipality
21 the payments by it to policyholders for damage or loss by fire
22 to buildings in the municipality.
23 Section 2. This act shall take effect immediately.
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