Pennsylvania § 4514 - Corporate oversight.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 4514 — Corporate oversight., with citation guidance and answers to common questions.
§ 4514. Corporate oversight.
(a) Duties.--If a licensee has a board of directors, the board or an appropriate committee of the board shall, at a minimum:
(1) Require the licensee's executive management or delegates to develop, implement and maintain the licensee's information security program.
(2) Require the licensee's executive management or delegates to report in writing at least annually, the following information:
(i) The overall status of the information security program and the licensee's compliance with this chapter.
(ii) Material matters related to the information security program, addressing issues such as:
(A) Risk assessment, risk management and control decisions.
(B) Third-party service provider arrangements.
(C) The results of testing.
(D) Cybersecurity events.
(E) Any violation of this chapter and management's responses to the violation.
(F) Recommendations for changes in the information security program.
(b) Delegation.--If the executive management of a licensee delegates any of its responsibilities under this section or section 4512 (relating to risk assessment), 4513 (relating to information security program) or 4515 (relating to oversight of third-party service provider arrangements), the executive management shall oversee the development, implementation and maintenance of the licensee's information security program prepared by the delegated entity, which shall provide a written report to the executive management in accordance with the reporting requirements of this chapter.
Cross References. Section 4514 is referred to in sections 4516, 4521, 4532, 4536 of this title.
Frequently Asked Questions About Pennsylvania § 4514
What does Pennsylvania Consolidated Statutes § 4514 cover?
Section 4514 ("Corporate oversight.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 4514?
A common citation format is "Pennsylvania Consolidated Statutes § 4514" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 4514 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.