WIEAND, Judge:
The issue in this appeal is whether a life insurance company can maintain an action against former officers and directors of the company under Section 406.1(r) of The Insurance Company Law of 1921, as amended, 40 P.S. § 506.1(r), for losses caused by investments made in violation of the statute. The trial court held that the provisions of section 406.1(r) did not create a separate cause of action and entered summary judgment in favor of the former...
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