§ 148a.2. Permissible methods of holding securities.
(a) An insurer may hold its securities in definitive certificates.
(b) An insurer may provide for its securities to be held by a custodian under a custodial agreement as required under § 148a.3 (relating to requirements for custodial agreements). Securities held under a custodial agreement shall be held by:
(1) The custodian.
(2) The custodian’s agent.
(3) A clearing corporation.
(4) The Federal Reserve book-entry system.
(c) An insurer’s investment company securities may be held by the investment company that issued the investment company securities as required under § 148a.4 (relating to requirements for investment company securities).
(d) An insurer may provide for its securities to be held as required by a state treasurer or other state regulatory authority to meet deposit requirements as a condition of doing business in that state.
Cross References This section cited in 31 Pa. Code § 148a.3 (relating to requirements for custodial agreements).
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