reglab/housing_qa huggingface dataset:
NY Ins L § 7103 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7103 - Content of Merger or Consolidation Agreement, and of Charter of Surviving or Consolidated Company.

§  7103.  Content of merger or consolidation agreement, and of charter of surviving or consolidated company. (a) Any agreement  for  merger  or consolidation  shall  contain  the  proposed charter of the surviving or consolidated company and such other particulars as may be  necessary  to explain  and  make manifest the objects and purposes of the surviving or consolidated company and the manner in which it is to be conducted. Such company may be given  the  name  of  one  or  more  of  the  constituent companies,  which  name  shall,  however,  comply with subsection (g) of section one thousand one hundred two of this chapter.  The  approval  of such  agreement  by  the  superintendent shall constitute an approval of such proposed charter.  (b)  The  proposed  charter  shall  conform  to  all  requirements  of paragraph five of subsection (a) of section one thousand two hundred one of this chapter.  (c) If the surviving or consolidated company shall be a stock company, its  charter  shall provide that its capital shall be no larger than the sum of the capital of the constituent companies.
NY Ins L § 7105 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7105 - Approval by Superintendent.

§  7105.  Approval  by  superintendent.  (a)  Upon  the adoption of an agreement  of  merger  or  consolidation,  or  an  agreement   for   the acquisition  of  assets, the proposed agreement shall be executed by the president and attested by the secretary, or  officers  corresponding  to either  of  them, under the corporate seal of each of the constituent or contracting companies. A certified copy of such agreement, together with a certificate of its adoption as provided for herein, subscribed by such officers and affirmed by them as true under the penalties of perjury and under the seal of their respective companies, shall be submitted to  the superintendent  for  his  approval.   The superintendent shall thereupon consider such agreement, and if satisfied that  it  complies  with  this article,  is  fair  and equitable, does not tend to substantially lessen competition in any line of  insurance  or  tend  to  create  a  monopoly therein,  and  is  not  inconsistent  with  law,  he  shall approve such agreement. If the superintendent shall refuse to approve such agreement, notification of such refusal,  assigning  the  reasons  therefor,  shall within  thirty days from the date of submission to him of such agreement be given in writing by the superintendent to each of the constituent  or contracting  companies.  No  agreement  shall  take  effect  unless  the approval of the superintendent has been obtained.  (b) In the event any domestic life insurance company  submits  to  the superintendent  for his approval an agreement of merger or consolidation pursuant to this section, the superintendent may extend  the  five  year interval  for  examination  prescribed  by section three hundred nine of this chapter for an additional one year interval.
NY Ins L § 7106 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7106 - Merger or Consolidation Between Domestic and Foreign Companies; Certificate of Approval.

§   7106.   Merger  or  consolidation  between  domestic  and  foreign companies;  certificate  of  approval.  (a)  In  case  of  a  merger  or consolidation between a domestic and a foreign company, the agreement of merger or consolidation shall be executed by the proper officers of said foreign  company when they are duly authorized thereto by such action on the part of the directors,  shareholders  or  members  of  said  foreign company  as  may  be required by the laws of the state where the same is incorporated; and if required by such laws, said agreement of merger  or consolidation   shall  be  submitted  to  the  superintendent  or  other insurance supervisory official  of  the  state  in  which  such  foreign company  is  incorporated and no such merger or consolidation shall take effect until it shall have been approved by the superintendent  of  this state,  and, if required as aforesaid, by such insurance official of the state where said foreign company is  incorporated,  as  evidenced  by  a certificate  of  his approval, filed in the office of the superintendent of this state.  (b) No such merger or consolidation between  a  domestic  and  foreign company   shall   take   effect,  unless  and  until  the  surviving  or consolidated company, if such company is a foreign company,  shall  file with  the superintendent of this state a power of attorney in compliance with section one thousand two hundred twelve of this chapter.
NY Ins L § 7107 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7107 - Expedited Approval; Mutual Property/casualty Insurance Companies.

§   7107.   Expedited  approval;  mutual  property/casualty  insurance   companies. If in the judgment of the superintendent the interests of the   policyholders require it, a domestic mutual property/casualty  insurance   company   may,   after   obtaining   the   tentative   approval  of  the   superintendent  and  subject  to  his  final  approval,  enter  into  an   agreement  of merger or consolidation with an authorized assuming mutual   property/casualty insurance company, upon the adoption of such agreement   by the boards of directors of such companies at special meetings  called   for  the  purpose  upon  at least ten days notice. Upon the execution of   such  agreement,  notice  thereof,   in   a   form   approved   by   the   superintendent, shall immediately be mailed to the policyholders of both   companies.  If within thirty days after such notice five percent or more   of the policyholders of either company, determined as  of  the  date  of   mailing such notice, shall file with the superintendent their objections   to  such agreement, the superintendent shall call a hearing thereon upon   such notice as the superintendent shall deem  advisable.  If  upon  such   hearing  the  superintendent shall find that the terms of such agreement   are not fair and reasonable to the policyholders and creditors  affected   thereby,  the superintendent may withdraw his tentative approval of such   agreement  which  shall  thereupon  become  null  and   void.   If   the   superintendent  finally approves such agreement, the other provisions of   this article, except sections seven thousand  one  hundred  four,  seven   thousand  one  hundred  five  and seven thousand one hundred nineteen of   this article, shall be applicable to such merger or consolidation.
NY Ins L § 7108 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7108 - Filing of Agreement of Merger or Consolidation.

§ 7108. Filing of agreement of merger or consolidation. A duplicate or   certified  copy  of  the  agreement  of merger or consolidation with the   approval of the superintendent endorsed thereon shall be  filed  in  the   office  of  the  clerk  of the county where the principal office of each   domestic constituent company is located and upon  such  filing,  if  all   other  requirements  have  been  fulfilled, such merger or consolidation   shall become effective.
NY Ins L § 7109 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7109 - Limitation on Enlargement of Powers.

§  7109.  Limitation  on enlargement of powers. This article shall not   enlarge the charter powers of any company except in conformity with  the   provisions  of  the  proposed  charter  of the surviving or consolidated   company as provided in section seven thousand one hundred three of  this   article,  nor authorize any company to do any kind of insurance business   not authorized by its  charter,  nor  authorize  any  foreign  or  alien   company  to  do  any  kind  of  insurance  business  in  this  state not   authorized by its license or certificate of authority to do business  in   this state.
NY Ins L § 7110 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7110 - Fees; Certification; Prohibitions; Penalty.

§  7110.  Fees;  certification; prohibitions; penalty. (a) Whenever an agreement of consolidation or merger or for the acquisition  of  assets, or  a plan for acquisition of minority interests in a subsidiary insurer as provided in section seven  thousand  one  hundred  eighteen  of  this article,  shall  be  filed  with the superintendent, there shall also be filed with him a certificate executed by the president and  attested  by the secretary, or by officers corresponding to either of them, under the corporate  seal  of each of the constituent or contracting companies, or of the parent corporation and subsidiary insurer, and subscribed by such officers and affirmed by them as true under the  penalties  of  perjury, setting  forth  all fees, commissions or other compensations or valuable considerations paid or to  be  paid,  directly  or  indirectly,  to  any person,  firm  or  corporation,  for  in  any  manner  securing, aiding, promoting or assisting in any such consolidation, merger or  acquisition of assets or minority interests.  (b)  No  director,  officer  or  member  of any such company or of any parent corporation or subsidiary insurer, except as fully  expressed  in the  agreement  of  consolidation  or  merger  or for the acquisition of assets or in the  plan  for  acquisition  of  minority  interests  in  a subsidiary   insurer,   shall   receive   any   fee,  commission,  other compensation or valuable consideration, directly or indirectly,  for  in any manner aiding, promoting or assisting in such consolidation, merger, or acquisition of assets or minority interests.  (c)  Any  person  violating the provisions of subsection (a) hereof or knowingly making any false certificate or  statement  pursuant  thereto, shall be guilty of a felony.
NY Ins L § 7111 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7111 - Proof of Proceedings of Meeting and Action of Company.

§  7111.  Proof  of  proceedings  of  meeting and action of company. A   certified copy of the proceedings of any meeting made by  the  secretary   thereof  or  of  the action of any company made by the secretary of such   company, subscribed and affirmed by him as true under the  penalties  of   perjury, shall be presumptive evidence of the holding of the meeting and   the action of such meeting and the action of such company.
NY Ins L § 7112 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7112 - Vesting of Property in Surviving or Consolidated Company; Assumption of Liabilities.

§  7112.  Vesting  of  property  in surviving or consolidated company;   assumption of liabilities. Upon  the  merger  or  consolidation  of  any   companies  in the manner herein provided, all the rights, franchises and   interests of the constituent companies,  in  and  to  every  species  of   property,  real,  personal  and  mixed,  and  things in action thereunto   belonging, shall be deemed as transferred to and vested in the surviving   or consolidated  company,  without  any  other  deed  or  transfer;  and   simultaneously therewith such surviving or consolidated company shall be   deemed  to  have  assumed  all  of  the  liabilities  of the constituent   companies.
NY Ins L § 7113 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7113 - Transfer of Deposits to Surviving or Consolidated Company.

§  7113. Transfer of deposits to surviving or consolidated company. If   any  constituent  company  in  a  merger  or  consolidation  under   the   provisions of this article shall have on deposit with the superintendent   securities   held   for  the  benefit  and  protection  of  all  of  its   policyholders or policyholders and creditors within the  United  States,   the  superintendent is authorized, upon the completion of such merger or   consolidation, to transfer residuary interest in such  deposit  of  such   constituent  company  to  the  surviving or consolidated company, and to   release such deposit or any part thereof if no longer required  of  such   surviving or consolidated company under the provisions of this chapter.
NY Ins L § 7114 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7114 - Pending Actions.

§  7114. Pending actions. No action or proceeding, pending at the time   of the merger or  consolidation  to  which  either  of  the  constituent   companies  may  be a party, shall be abated or discontinued by reason of   such merger or consolidation, but the same may be  prosecuted  to  final   judgment  in  the  same manner as if the merger or consolidation had not   taken  place;  or  the  continuing  or  consolidated  company,  may   be   substituted  in  the  place  of such constituent company by order of the   court in which the action or proceeding may be pending.
NY Ins L § 7115 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7115 - Shareholders' Liability.

§  7115.  Shareholders' liability. The shareholders of a stock company   merging or consolidating shall continue subject to all the  liabilities,   claims  and  demands  existing  against  them  as such at or before such   merger or consolidation.
NY Ins L § 7116 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7116 - Liability of Members of Assessment Company to Continue.

§  7116.  Liability  of  members of assessment company to continue. In   case of a merger or consolidation of assessment companies the  liability   of  members  thereof to assessments shall continue and be transferred to   the surviving or consolidated company.
NY Ins L § 7117 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7117 - Return of Shares of Constituent Company.

§  7117.  Return  of  shares  of  constituent  company. A surviving or   consolidated company may require the return of the original certificates   of stock held by each shareholder in each constituent company, and issue   in lieu thereof new certificates for such number of its  own  shares  as   such  shareholder may be entitled to receive.
NY Ins L § 7119 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7119 - Appraisal of Shares of Dissenting Shareholder on Merger or Consolidation of Domestic Company or on Acquisition of Minority Interests in a Subsidiary I

§  7119.  Appraisal  of  shares of dissenting shareholder on merger or consolidation  of  domestic  company  or  on  acquisition  of   minority interests  in  a  subsidiary  insurer.  (a)  A shareholder of a domestic company, by complying with  section  six  hundred  twenty-three  of  the business corporation law except as otherwise provided in subsections (b) and  (c)  hereof,  shall  have the right to receive payment for the fair value of his shares, and such other rights and benefits as are  provided by such section of the business corporation law, in the following cases:  (1)  a  shareholder entitled to vote who does not assent to the taking of any action specified in section seven thousand  one  hundred  two  of this article; or  (2)  a shareholder whose shares are acquired pursuant to section seven thousand one hundred eighteen of this article.  (b) A shareholder who elects to dissent from an  acquisition  proposed under section seven thousand one hundred eighteen of this article shall, in  lieu  of  the procedures set forth in paragraphs (a), (b) and (c) of section six hundred twenty-three of the business corporation law, file a written notice of his election to dissent with the parent within  twenty days after the delivery to him of either a copy of the plan or a summary thereof pursuant to subsection (e) of section seven thousand one hundred eighteen of this article.  (c)  For  purposes  of  this  section,  the  provisions of section six hundred  twenty-three  of  the  business  corporation  law,  other  than paragraphs (i) and (m) thereof, are applicable except that:  (1)  the references to "this chapter" in paragraph (a) of such section of the business corporation law are deemed to refer to this article;  (2) in the case of shares acquired pursuant to section seven  thousand one  hundred  eighteen of this article, the references to "shareholders' authorization date" in paragraph (g) of such  section  of  the  business corporation  law are deemed to refer to the date of delivery of the plan or a summary thereof as provided in  subsection  (e)  of  section  seven thousand one hundred eighteen of this article; and  (3)  upon  payment of the value of the shares of a shareholder who has dissented from a merger or consolidation, as provided in  paragraph  (g) or (h) of such section of the business corporation law, the shares shall be cancelled.
NY Ins L § 7121 (2021)
2021 New York Laws ISC - Insurance Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers 7121 - Effects Upon Guaranty Corporations of Certain Events.

§  7121.  Effects upon guaranty corporations of certain events. (a) No domestic life insurance company  which  became  a  domestic  insurer  in accordance  with  section  seven  thousand  one  hundred  twenty of this article shall, except as provided in paragraph two of subsection (c)  of this  section,  at any time be deemed to be a member company of The Life Insurance Guaranty Corporation provided for in article  seventy-five  of this chapter.  (b)  No  benefits  for  any  person  shall  arise  or  be increased or decreased under article seventy-five or article  seventy-seven  of  this chapter  as  a  result  of the redomestication of a foreign life insurer pursuant to section seven thousand one hundred twenty of this article.  (c)(1) No merger or consolidation between a  domestic  life  insurance company  which  is  a  member  company  of  The  Life Insurance Guaranty Corporation and a domestic life insurance company which is not a  member company  of  The Life Insurance Guaranty Corporation shall result in any increase  or  decrease  of  the  protection   provided   under   article seventy-five  of this chapter to the policies or contracts of the member company. No policy or contract issued by a non-member company  prior  to such merger or consolidation shall receive the protection provided under article  seventy-five  of  this  chapter  as  a result of such merger or consolidation.  (2) If the surviving or consolidated company of  any  such  merger  or consolidation  is  not  a  member company of The Life Insurance Guaranty Corporation, the surviving or consolidated company shall be deemed to be a member company of The Life Insurance Guaranty Corporation and shall be subject to any assessment levied against member  companies  pursuant  to section  seven  thousand five hundred four of this chapter in proportion to the surviving or consolidated  company's  total  admitted  assets  as shown  in  its  annual statement for the year next preceding the date of such assessment; provided, however, in the event that an  assessment  is levied  against  the  surviving  or  consolidated  company the year such merger or consolidation is consummated, the  surviving  or  consolidated company  shall  be  assessed in proportion to the admitted assets of its constituent member company as shown  in  such  member  company's  annual statement for the year next preceding the date of such assessment.
NY Ins L § 7201 (2021)
2021 New York Laws ISC - Insurance Article 72 - Domestication of the United States Branch of an Alien Insurer 7201 - Definitions.

§ 7201. Definitions. In this article:  (a) "Domestication"   means   the   reorganization   pursuant  to  the provisions of this article of the  United  States  branch  of  an  alien insurer  whereby  a domestic or foreign insurer succeeds to all business and assets and assumes all liabilities of such branch.  (b) "United States branch"  means  the  business  unit  through  which business  is transacted within the United States by an alien insurer and the assets and liabilities of such  insurer  within  the  United  States pertaining to such business.  (c) "Domestic  insurer"  means  a stock insurance company incorporated under the laws of this state.  (d) "Foreign insurer" means a  stock  insurance  company  incorporated under the laws of any other state.