MICHAEL J. STACK, JR., Deputy Attorney General, and ANNE X. ALPERN, Attorney General, August 27, 1959.
You have requested an opinion as to whether an application by an out-of-State insurance company to do business in this Commonwealth should be granted when such company has stock of a par value of less than $5 or no par value stock.
Section 205 of The Insurance Company Law of May 17, 1921, P. L. 682, as amended, 40 PS §385, provides:
"The capital...
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