Pennsylvania Act 1933-68 — WORKMEN'S COMPENSATION FUND, AUDIT BY INSURANCE DEPARTMENT

Act text

WORKMEN'S COMPENSATION FUND, AUDIT BY INSURANCE DEPARTMENT
                   Act of May 1, 1933, P.L. 102, No. 68               Cl. 77
                               A SUPPLEMENT

     To the act, approved the second day of June, one thousand nine
        hundred and fifteen (Pamphlet Laws, seven hundred sixty-two),
        entitled "An act providing for the creation and
        administration of a State Fund for the insurance of
        compensation for injuries to employes of subscribers thereto;
        declaring false oaths by the subscribers to be misdemeanors;
        and providing penalties for the violation thereof," providing
        for the inspection and examination of the State Workmen's
        Insurance Fund by the Insurance Commissioner, and
        appropriating the moneys in the fund for the payment of the
        cost of such inspection and examination.
        (Title amended July 26, 1961, P.L.902, No.387)
        Section 1.  Be it enacted, &c., That the Insurance
     Commissioner shall, every three years or oftener if deemed to be
     necessary, personally or by his deputy, actuary or examiners,
     visit the State Workmen's Insurance Fund and make a complete
     inspection and examination of the affairs of the State Workmen's
     Insurance Fund to ascertain its financial condition and its
     ability to fulfill its obligations, whether the State Workmen's
     Insurance Board in managing the fund has complied with the
     provisions of law relating to the fund, and any other facts
     relating to its business methods and management, and the equity
     of the board's plans and dealings with its policyholders.
        (1 amended July 26, 1961, P.L.902, No.387)
        Section 2.  For the purpose of any inspection and examination
     authorized by this act, the Insurance Commissioner, his deputy
     or his examiners, shall have free access to all the books,
     records and papers pertaining to the State Workmen's Insurance
     Fund, and all persons charged with the management of the fund or
     connected therewith as employes are hereby directed and required
     to give to the Insurance Commissioner, his deputy or officers,
     the means, facilities and opportunity for such examination and
     audit.
        (2 amended July 26, 1961, P.L.902, No.387)
        Section 3.  The expenses incurred by the Insurance
     Commissioner in making any inspection and examination under the
     provisions of this act shall be ascertained by the Commissioner,
     and shall be certified to the State Workmen's Insurance Board,
     whereupon the board shall draw its warrant for the payment
     thereof to the Insurance Department out of the State Workmen's
     Insurance Fund. Any amount so received by the Insurance
     Department shall be paid by it into the General Fund, through
     the Department of Revenue. The moneys in the State Workmen's
     Insurance Fund are hereby appropriated for payment of expenses
     of inspections and examinations made under this act.
        (3 amended July 26, 1961, P.L.902, No.387)