reglab/housing_qa huggingface dataset:
NY Ins L § 7410 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7410 - Conduct of Delinquency Proceedings Against Insurers Not Domiciled in This State.

§  7410.  Conduct  of  delinquency  proceedings  against  insurers not domiciled in this state. (a) Whenever under the laws of  this  state  an ancillary  receiver is to be appointed in delinquency proceedings for an insurer not domiciled  in  this  state,  the  court  shall  appoint  the superintendent  as  ancillary  receiver. The superintendent shall file a petition  requesting  the  appointment  if  he  finds  that  there   are sufficient  assets  of such insurer located in this state to justify the appointment of an ancillary receiver, or if ten or more persons resident in this state having claims against such insurer file  a  petition  with the   superintendent   requesting  the  appointment  of  such  ancillary receiver.  (b) The domiciliary receiver for the purpose of liquidating an insurer domiciled in a reciprocal state, shall be vested  by  operation  of  law with  the title to all of the property, contracts, and rights of action, and all books and records of the insurer  located  in  this  state,  and shall have the immediate right to recover balances due from local agents and  obtain  possession of any books and records of the insurer found in this state.  He shall also be entitled to recover the  other  assets  of the insurer located in this state except that upon the appointment of an ancillary  receiver  in  this state, the ancillary receiver shall during the ancillary receivership proceedings have the sole  right  to  recover such other assets. The ancillary receiver shall, as soon as practicable, liquidate  from their respective securities those special deposit claims and secured claims  which  are  proved  and  allowed  in  the  ancillary proceedings  in  this state, and shall pay the necessary expenses of the proceedings. All remaining assets he  shall  promptly  transfer  to  the domiciliary  receiver. Subject to the foregoing provisions the ancillary receiver and his deputies shall have the same powers and be  subject  to the  same duties with respect to the administration of such assets, as a receiver of an insurer domiciled in this state.  (c) The domiciliary receiver of an insurer domiciled in  a  reciprocal state  may  sue  in  this state to recover any assets of such insurer to which he may be entitled under the laws of this state.
NY Ins L § 7411 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7411 - Filing and Proving of Claims of Non-Residents Against Delinquent Insurers Domiciled in This State.

§  7411.  Filing  and  proving  of  claims  of  non-residents  against delinquent insurers domiciled  in  this  state.  (a)  In  a  delinquency proceeding  begun  in  this  state  against an insurer domiciled in this state, claimants residing in reciprocal states may  file  claims  either with  the  ancillary  receivers,  if any, in their respective states, or with the domiciliary receiver. All such  claims  must  be  filed  on  or before  the  last date fixed for the filing of claims in the domiciliary delinquency proceedings.  (b) (1) Controverted claims of claimants residing in reciprocal states may either be proved in this state as provided by law, or, if  ancillary proceedings have been commenced in such reciprocal states, may be proved in those proceedings.  (2)  If  a claimant elects to prove his claim in ancillary proceedings and if notice of the claim and opportunity to appear  and  be  heard  is afforded  the  domiciliary receiver of this state as provided in section seven thousand four hundred twelve  of  this  article  with  respect  to ancillary  proceedings  in this state, the final allowance of such claim by the courts in the ancillary state shall be accepted in this state  as conclusive  as  to  its  amount, and as to its priority, if any, against special deposits or other security located within the ancillary state.
NY Ins L § 7412 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7412 - Filing and Proving of Claims of Residents Against Delinquent Insurers Domiciled in Reciprocal States.

§  7412.  Filing and proving of claims of residents against delinquent insurers domiciled in reciprocal states. (a) In a delinquency proceeding in a reciprocal state  against  an  insurer  domiciled  in  that  state, claimants  residing  in  this  state  may  file  claims  either with the ancillary receiver, if  any,  appointed  in  this  state,  or  with  the domiciliary  receiver.  All  such  claims must be filed on or before the last date fixed for the filing of claims in the domiciliary proceeding.  (b) (1) Controverted claims belonging to claimants  residing  in  this state  may  be proved either in the domiciliary state as provided by the law of that state, or in ancillary proceedings, if any, in this state.  (2) If the claimant elects to prove his claim in this state, he  shall file it with the ancillary receiver in the manner provided by the law of this  state for the proving of claims against insurers domiciled in this state, and he shall give notice  in  writing  to  the  receiver  in  the domiciliary  state  either  by registered mail or by personal service at least forty days prior to the date set for  hearing.  The  notice  shall contain  a  concise  statement  of the amount of the claim, the facts on which it  is  based,  and  the  priorities  asserted,  if  any.  If  the domiciliary  receiver,  within  thirty  days  after  the  giving of such notice, shall give notice in writing to the ancillary  receiver  and  to the  claimant,  either  by  registered  mail or personal service, of his intention to contest such claim, he shall be entitled to appear or to be represented in any proceeding in this state involving  the  adjudication of the claim.  (3) The final allowance of the claim by the courts of this state shall be  accepted  as conclusive as to its amount, and shall also be accepted as conclusive as to its priority, if any, against  special  deposits  or other security located within this state.
NY Ins L § 7413 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7413 - Priority of Preferred Claims, Special Deposit Claims and Secured Claims.

§  7413.  Priority  of  preferred  claims,  special deposit claims and secured claims. (a) In  a  delinquency  proceeding  against  an  insurer domiciled  in  this state, claims owing to residents of ancillary states shall be preferred claims if like claims are preferred under the laws of this state. All such claims whether owing to residents or  non-residents shall  be given equal priority of payment from general assets regardless of where such assets are located.  (b) In a delinquency proceeding against  an  insurer  domiciled  in  a reciprocal  state,  claims  owing  to  residents  of this state shall be preferred if like claims are preferred by the laws of that state.  (c) The owners of special deposit claims against an insurer for  which a  receiver  is  appointed  in  this  or  any other state shall be given priority against their several special deposits in accordance  with  the provisions  of  the  statutes  governing the creation and maintenance of such deposits. If there is a deficiency in any such deposit so that  the claims secured thereby are not fully discharged therefrom, the claimants may  share  in  the  general  assets, but such sharing shall be deferred until general  creditors,  and  also  claimants  against  other  special deposits  who  have  received  smaller percentages from their respective special deposits, have been paid percentages of their  claims  equal  to the percentage paid from the special deposit.  (d)  The  owner  of  a  secured  claim  against an insurer for which a receiver has been appointed in this or any other state may surrender his security and file his claim as a general creditor, or the claim  may  be discharged  by  resort to the security, in which case the deficiency, if any, shall be treated as a claim  against  the  general  assets  of  the insurer  on  the  same  basis  as  claims of unsecured creditors. If the amount of the deficiency has been adjudicated in  ancillary  proceedings as  provided  in  this  act, or if it has been adjudicated by a court of competent jurisdiction in proceedings in which the domiciliary  receiver has  had  notice  and  opportunity  to  be  heard,  such amount shall be conclusive; otherwise the amount shall be determined in the  delinquency proceeding in the domiciliary state.
NY Ins L § 7414 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7414 - Attachment and Garnishment of Assets.

§  7414.  Attachment and garnishment of assets. During the pendency of   delinquency proceedings in this or any reciprocal  state  no  action  or   proceeding  in  the  nature  of an attachment, garnishment, or execution   shall be commenced or maintained in the courts of this state against the   delinquent insurer or its assets. Any lien obtained by any  such  action   or  proceeding  within four months prior to the commencement of any such   delinquency proceeding or at  any  time  thereafter  shall  be  void  as   against any rights arising in such delinquency proceeding.
NY Ins L § 7415 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7415 - Uniformity of Interpretation.

§ 7415. Uniformity of interpretation. The uniform insurers liquidation   act shall be interpreted and construed to effectuate its general purpose   to  make  uniform  the  law of those states that enact it. To the extent   that its provisions, when applicable, conflict with other provisions  of   this chapter, the provisions of this act shall control.
NY Ins L § 7416 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7416 - Grounds for Dissolution of Domestic Insurer.

§   7416.   Grounds   for   dissolution   of   domestic  insurer.  The   superintendent may apply under this article for an order dissolving  the   corporate  existence of a domestic insurer: (i) upon his application for   an order of liquidation of its business, or at any time after such order   has been granted; or (ii) upon the grounds specified in  subsection  (m)   of  section  seven thousand four hundred two of this article, regardless   of whether an order of liquidation is sought or has been obtained.
NY Ins L § 7417 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7417 - Commencement of a Proceeding.

§  7417.  Commencement of a proceeding. The superintendent represented   by the attorney general shall commence any proceeding under this article   by an application to the supreme court,  in  the  judicial  district  in   which  the  principal  office  of  the  insurer is located, for an order   directing such insurer to show cause why the superintendent  should  not   have the requested relief. On the return of such order, and after a full   hearing, which shall be held without delay, such court shall either deny   the  application  or  grant  it  together  with such other relief as the   nature of the  case  and  the  interests  of  policyholders,  creditors,   shareholders, members, or the public may require.
NY Ins L § 7418 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7418 - Service of Order to Show Cause.

§  7418.  Service  of order to show cause. (a) The order to show cause and the papers upon which it is granted shall be served upon the insurer named therein by delivering true copies to, and leaving them with:  (1) If a domestic  corporation:  its  president  or  other  head,  the secretary or clerk to the corporation, the cashier, the treasurer or any director or managing agent.  (2)  If a foreign or alien corporation: its president, vice-president, treasurer or assistant treasurer, secretary or assistant  secretary,  or any  director  or  managing  agent  or,  if  the corporation has no such officers within this state,  to  the  officer  performing  corresponding functions.  (3) If a voluntary, unincorporated or a joint stock association, order or  society: the president, vice-president, treasurer, director, trustee or other officer or a member with managerial powers.  (4)  If  a  reciprocal  insurer  or  Lloyds  underwriters:  the   duly designated attorney-in-fact.  (b)  When  it  is  satisfactorily  proved by the verified report of an examiner to the superintendent or  by  affidavit  of  any  other  person familiar  with  the facts that the persons upon whom service is required to be made have departed from the state  or  keep  themselves  concealed therein  or  have resigned from their offices within forty days prior to the application for an order to show cause under the provision  of  this section,  or  that service cannot be made immediately by the exercise of reasonable diligence, such order may provide for service in such  manner as the court directs.
NY Ins L § 7419 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7419 - Injunctions.

§ 7419. Injunctions. (a) Upon application by the superintendent for an order  to  show  cause under this article or at any time thereafter, the court in which such order is made, or any justice  thereof  may  without notice  issue  an  injunction  restraining  the  insurer,  its officers, directors, shareholders, members, trustees, agents, servants, employees, policyholders, attorneys, managers,  and  all  other  persons  from  the transaction  of its business or the waste or disposition of its property until further order of the court.  (b) Such court or justice may at any time during  a  proceeding  under this  article  issue  such  other  injunctions  or  orders  as  it deems necessary  to  prevent  interference  with  the  superintendent  or  the proceeding,  or  waste of the assets of the insurer, or the commencement or prosecution of any actions, the obtaining of preferences,  judgments, attachments  or  other  liens,  or  the  making  of any levy against the insurer, its assets or any part thereof.
NY Ins L § 7420 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7420 - Annual Report.

§  7420.  Annual  report.  The  superintendent  shall  transmit to the   legislature in his annual report the names  of  all  insurers  proceeded   against  under  this  article together with such facts as shall acquaint   the policyholders, creditors, shareholders,  and  the  public  with  all   proceedings.  To that end the special deputy superintendent in charge of   any such insurer shall file annually with the superintendent a report of   the affairs of such insurer.
NY Ins L § 7421 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7421 - Removal of Proceedings.

§  7421.  Removal  of  proceedings.  Any  time after commencement of a   proceeding under this article, the superintendent may apply ex parte  to   the  court or any justice thereof for an order changing the venue of and   removing the proceeding to Albany county, or, in the discretion  of  the   superintendent, to any other county of this state in which he deems that   such proceeding may be most economically and efficiently conducted. Upon   the  filing  of  any  such application, the court or any justice thereof   shall direct the clerk of the county wherein such proceeding is  pending   to transmit all papers filed therein with such clerk to the clerk of the   county  to  which  such  proceeding  is  removed.  The  proceeding shall   thereafter be conducted in such other  county  as  though  it  had  been   commenced in such county.
NY Ins L § 7422 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7422 - Appointment of Deputies; Employment of Assistants.

§ 7422. Appointment of deputies; employment of assistants. (a) For the purposes  of this article the superintendent shall have power to appoint special deputy, and assistant special  deputy,  superintendents  as  his agents,  and to employ such counsel, clerks and assistants as may by him be deemed necessary and to give them such powers to  assist  him  as  he considers wise.  (b)  The  compensation  of  such  special and assistant special deputy superintendents, counsel, clerks and assistants,  and  all  expenses  of conducting  any  proceeding  under  this  article  shall be fixed by the superintendent, subject to the approval of the court, and shall be  paid out of the funds or assets of such insurer.
NY Ins L § 7423 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7423 - Exemption From Filing Fees.

§  7423.  Exemption  from filing fees. The superintendent shall not be   required to pay any fee to any county clerk, register  or  other  public   officer  in  this  state  for filing, recording, issuing a transcript or   certificate, or authenticating any paper or instrument pertaining to the   exercise by the superintendent of any of the powers or duties  conferred   upon  him  by any of the provisions of this article, whether or not such   paper or instrument be executed by the superintendent or his deputies or   attorneys of record  and  whether  or  not  it  is  connected  with  the   commencement  of  an  action  or  judicial  proceeding by or against the   superintendent, or with the subsequent conduct  of  such  an  action  or   proceeding.
NY Ins L § 7424 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7424 - Deposit of Monies Collected; Preference.

§  7424.  Deposit of monies collected; preference. Monies collected by   the superintendent in a proceeding under this article shall be deposited   in one or  more  state  or  national  banks,  savings  banks,  or  trust   companies.  In  the  case  of  insolvency  or  voluntary  or involuntary   liquidation of any such depositary organized and  supervised  under  the   laws  of  this  state,  such  deposits  shall be entitled to priority of   payment on an equality with any other priority given by the banking  law   of  this  state.  The  superintendent may in his discretion deposit such   monies or any part thereof in a national bank  or  trust  company  as  a   trust fund.
NY Ins L § 7425 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7425 - Voidable Transfers.

§ 7425. Voidable transfers. (a) Any transfer of, or lien created upon, the property of an insurer within twelve months prior to the granting of an  order  to show cause under this article with the intent of giving to any creditor or enabling him to obtain a greater percentage of his  debt than  any other creditor of the same class and which is accepted by such creditor having reasonable cause to believe that such a preference  will occur, shall be voidable.  (b)  Every  director,  officer, employee, shareholder, member or other person acting on behalf of such insurer who shall be  concerned  in  any such  prohibited  act and every person receiving thereby any property of such insurer or the benefit thereof shall be personally liable  therefor and shall be bound to account to the superintendent.  (c) The superintendent, as liquidator, rehabilitator or conservator in any  proceeding  under  this article, may avoid any transfer of, or lien upon, the property of an insurer  which  any  creditor,  shareholder  or member  of  such insurer might have avoided and may recover the property transferred or its value from the transferee unless he was a  bona  fide holder  for  value prior to the date of the granting of an order to show cause under this article. Such property or its value  may  be  recovered from anyone who has received it except a bona fide holder for value.  (d)  Notwithstanding the provisions of subsection (a) of this section, a commutation of a reinsurance agreement, approved by the superintendent pursuant to section  one  thousand  three  hundred  twenty-one  of  this chapter, shall not be voidable as a preference.
NY Ins L § 7427 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7427 - Offsets.

§  7427.  Offsets.  (a) In all cases of mutual debts or mutual credits between the insurer and another person in connection with any action  or proceeding  under  this article, such credits and debts shall be set off and the balance only shall be allowed or paid,  except  as  provided  in subsection (b) hereof.  (b)  No  offset shall be allowed in favor of any such person, however, where:  (1) the obligation of the insurer to such person would not at the date of the entry of any liquidation order,  or  otherwise,  as  provided  in section seven thousand four hundred five of this article, entitle him to share as a claimant in the assets of such insurer, or  (2)  the  obligation of the insurer to such person was purchased by or transferred to such person with a view of its being used as  an  offset, or  (3)  the  obligation  of  such  person  is to pay an assessment levied against the members of a mutual insurer or  to  pay  a  balance  upon  a subscription to the shares of a stock insurance corporation.
NY Ins L § 7428 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7428 - Disposition of Assets and Compromise of Claims.

§  7428.  Disposition  of  assets  and  compromise  of claims. (a) The superintendent may, subject to the approval of the court:  (1) sell or otherwise dispose of all or  any  part  of  the  real  and personal  property  of  an  insurer  against  whom a proceeding has been brought under this article, and  (2) sell or compound all doubtful or  uncollectible  debts  or  claims owed  by  or  to  such insurer including claims based upon an assessment levied against a member of a mutual insurer.  (b) If the amount of any such real or personal property owned  by,  or debt  or  claim  owed by or to, such insurer does not exceed twenty-five thousand dollars, then the superintendent may sell or dispose of all  or any part of the real or personal property, or compromise or compound the debt  or  claim,  upon such terms as the superintendent may deem for the best interests of such insurer without obtaining  the  approval  of  the court.  (c)  The  superintendent  may,  subject  to the approval of the court, sell, or agree to sell, or offer to sell, any assets of such an  insurer to  such of its creditors who may desire to participate in the purchase, to be paid for in whole or in part out  of  dividends  payable  to  such creditors.  (d)  Upon  application  of the superintendent, the court may designate representatives to act for  such  creditors  in  the  purchase,  holding and/or management of such assets, and the superintendent may, subject to the  approval of the court, advance the expenses of such representatives against the security of the claims of such creditors.