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Act 62 - Directors & Officers Disclosures

Act 62 of 2008 added a provision to the Insurance Company Law of 1921 (the "Act"), requiring all hospital plan corporations and professional health services plan corporations (“Plan”), by January 31 of each year, to provide to the Insurance Department, the Banking and Insurance Committee of the Senate and the Insurance Committee of the House of Representatives the name and business address of each officer, director or employee who serves on the board of directors of a hospital or other health care facility, or on the board of an entity that owns, operates or manages a hospital or health care facility. This  disclosure also applies to all subsidiaries and affiliates of the Plan.