This chapter applies to every insurance company, association
or exchange as defined in the Pennsylvania Insurance Company Law of
1921, 40 P.S. § 341 et seq., as amended.
The designated officer for the purpose of this chapter will
be the Township Treasurer.
When Nottingham Township is in receipt of funds required to
be deposited with Nottingham Township pursuant to this chapter, these
funds shall be placed in the Nottingham Township Fire Loss Account.
Any funds received pursuant to this chapter shall be placed in said
fund pending distribution in accordance with this chapter. This account
need only be in existence when funds are received in accordance with
this chapter.