§ 242.19. Investment transactions.
For the purposes of investing funds generated by the operations of the Fund, and only for investment purposes, the Director will cause all investments now owned in the name of the Fund and hereafter purchased by the Fund under section 1 of the act of April 25, 1929 (P. L. 723, No. 315) (72 P. S. § 3603) to be held in the shortened name of Medcat & Co. Such name will constitute the sole name under which the Director may invest funds. The Director will give notice to all parties with whom he deals in pursuit of his investment responsibilities, by citation of this section, of the existence of the Fund as the real party in interest in Medcat & Co. transactions.
The provisions of this § 242.19 adopted October 7, 1977, effective October 8, 1977, 7 Pa.B. 2893.
Notes of Decisions
These provisions provide for resolution of complaints of adverse agency action, and as such, do not provide adequate remedy or preclude litigant from seeking relief in court, where issue is Cat Funds failure to pay share of malpractice claim settlement, which places Fund in position of defendant, as opposed to its designed position of participant and/or arbiter. Ohio Cas. Group of Ins. Companies v. Argonaut Ins. Co., 525 A.2d 1195, 1197 (Pa. 1987).
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