Pennsylvania § 7143 Adoption of exemption standards of NAIC Valuation Manual

Pennsylvania Statutes

§ 7143 — Adoption of exemption standards of NAIC Valuation Manual

Pennsylvania § 7143

JurisdictionPennsylvania

Title 40INSURANCE

PartPART IV

Ch. 71RESERVE LIABILITIES

Subch.EXEMPTIONS

This text of Pennsylvania § 7143 (Adoption of exemption standards of NAIC Valuation Manual) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

40 Pa. Cons. Stat. § 7143 (2026).

Text

(a)Findings and declarations.--The General Assembly finds and declares that the work of NAIC and the participation of the commissioner in NAIC are essential to the general implementation of this chapter.

(b)Standards.--To effectuate the decision as to whether to exempt certain policies, certificates or products of a particular company from certain provisions of the NAIC Valuation Manual, the commissioner shall determine, on an annual basis, whether to adopt the standards for exemption specified in the most recent version of the NAIC Valuation Manual by submitting a statement of policy to the Legislative Reference Bureau for publication in the next available issue of the Pennsylvania Bulletin.

(c)Statement of policy.--A statement of policy issued under subsection (b) shall be exempt fr

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Findings and declarations.--The General Assembly finds and declares that the work of NAIC and the participation of the commissioner in NAIC are essential to the general implementation of this chapter.

(b) Standards.--To effectuate the decision as to whether to exempt certain policies, certificates or products of a particular company from certain provisions of the NAIC Valuation Manual, the commissioner shall determine, on an annual basis, whether to adopt the standards for exemption specified in the most recent version of the NAIC Valuation Manual by submitting a statement of policy to the Legislative Reference Bureau for publication in the next available issue of the Pennsylvania Bulletin.

(c) Statement of policy.--A statement of policy issued under subsection (b) shall be exempt from the following:

(1) Section 205 of the act of July 31, 1968 (P.L.769, No.240), referred to as the Commonwealth Documents Law.

(2) Section 204(b) and 301(10) of the act of October 15, 1980 (P.L.950, No.164), known as the Commonwealth Attorneys Act.

(3) The act of June 25, 1982 (P.L.633, No.181), known as the Regulatory Review Act.

(d) Construction.--Nothing in this section shall affect any other provision in this chapter or apply to any action taken by the department prior to the effective date of this section.