reglab/housing_qa huggingface dataset:
NY Ins L § 4101 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4101 - Definitions.

§  4101.  Definitions. In this article: (a) "Basic kinds of insurance" means the kinds of insurance described in the  following  paragraphs  of subsection  (a)  of  section  one  thousand one hundred thirteen of this chapter numbered therein as set forth in parentheses below:   fire (4);   burglary and theft (7);   glass (8);   boiler and machinery (9);   elevator (10);   animal (11);   personal injury liability (13);   property damage liability (14) - basic as to stock companies only;   workers' compensation and employers' liability (15);   fidelity and surety (16);   credit (17);   marine and inland marine (20);   marine protection and indemnity (21) - basic as  to  mutual  companies only.  (b)  "Non-basic  kinds  of  insurance"  means  the  kinds of insurance described in the following paragraphs of subsection (a) of  section  one thousand  one  hundred  thirteen of this chapter numbered therein as set forth in parentheses below:   accident and health (item (i) of (3));   non-cancellable disability (item (ii) of (3));   miscellaneous property (5);   water damage (6);   collision (12);   property damage liability (14) -  non-basic  as  to  mutual  companies only;   motor vehicle and aircraft physical damage (19);   inland marine as specified in marine and inland marine (20);   marine protection and indemnity (21) - non-basic as to stock companies only;   residual value (22);   credit unemployment (24);   gap (26);   prize indemnification (27);   service contract reimbursement (28);   legal services insurance (29);   involuntary unemployment insurance (30);   salary protection insurance (31);   donor medical expense insurance (32);   excess business disability insurance (33).
NY Ins L § 4106 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4106 - Stock Companies; Participating Policies.

§   4106.   Stock   companies;   participating   policies.   A   stock   property/casualty insurance company authorized to do  business  in  this   state  may  include  in its charter a provision authorizing the board of   directors to permit its policyholders from time to time  to  participate   in  the  profits  of  its operations through the payment of dividends to   policyholders.  For the purpose of carrying into effect this  provision,   the   board   of  directors  may  from  time  to  time  make  reasonable   classifications of policies.  Every such classification of  risks  shall   be  filed  with  the  superintendent  and  shall  not be effective as to   policies issued or delivered  in  this  state  unless  approved  by  the   superintendent  as  fair  and equitable and not unfairly discriminatory.   Any classification approved by the superintendent shall remain in effect   in this state until disapproved by him or until  withdrawn  or  modified   with  his  approval  by  the  company  filing  the same. No dividends to   policyholders shall be declared or paid by any such company  except  out   of  its  earned  surplus  as  defined  in subsection (a) of section four   thousand one hundred five of this article.
NY Ins L § 4108 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4108 - Foreign and Alien Mutual Companies; Licensing.

§  4108. Foreign and alien mutual companies; licensing. (a) No foreign or alien mutual property/casualty insurance company shall be  granted  a license  to  do  business in this state unless it substantially complies with all of the requirements set forth in this chapter  for  a  domestic mutual  property/casualty  insurance  company licensed to write the same kind or kinds of insurance.  (b) No alien  mutual  property/casualty  insurance  company  shall  be authorized  to  do business in this state unless it maintains a trusteed surplus, as required by section one thousand  three  hundred  twelve  of this chapter, at least equal to the surplus to policyholders required to be  maintained  by  a domestic stock property/casualty insurance company licensed to write the same kind or kinds of insurance.  (c) The financial requirements specified in subsections  (a)  and  (b) hereof  shall  be reduced by fifty percent for a foreign or alien mutual property/casualty insurance company initially licensed to do business in this state prior to July first, nineteen hundred  eighty-two,  but  such reduction  shall  not  apply to such a foreign or alien insurer licensed under subsection (c) of section four thousand one hundred  two  of  this article to reinsure risks or write insurance on risks outside the United States,  its  territories and possessions. Such reduction shall also not apply to the amounts required in order to  write  paragraph  twenty-two, twenty-four  or twenty-six of subsection (a) of section one thousand one hundred thirteen of this chapter.
NY Ins L § 4110 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4110 - Domestic Mutual Companies; Expense Limits.

§  4110.  Domestic  mutual  companies; expense limits. (a) No domestic mutual property/casualty insurance company licensed to write a  kind  of insurance  specified  in  paragraph  seven,  eight,  nine,  ten, eleven, thirteen, fourteen, fifteen, sixteen or seventeen of subsection  (a)  of section  one  thousand one hundred thirteen of this chapter shall expend in any one calendar year for management expenses a greater  amount  than thirty  percent  of  the  sum of its net premium income and seventy-five percent of its investment  income  for  such  year;  provided  that  any insurer   whose  principal  line  of  business  is  medical  malpractice liability insurance or any insurer who is the subject  of  a  proceeding pursuant to article seventy-four of this chapter shall not expend in any one  calendar year for management expenses, a greater amount than thirty percent of its net premium income for  such  year.  Management  expenses shall  be  held  to  include all expenses of the company except expenses incurred in the investigation,  adjustment  and  settlement  of  claims, taxes, fees and expenses of examination, and taxes, repairs and expenses on  real  estate.  In  applying  the  provisions of this section the net premium income of, and expenses of, boiler and  machinery  insurance  or elevator insurance shall not be included. In the event expenses incurred in  making  a  new system upgrade result in this subsection's management expenses limit  being  exceeded,  then  the  insurer  shall  inform  the superintendent  sixty  days  in  advance  of  the  expense  limit  being exceeded. Subject to approval by the superintendent, the limit shall  be temporarily  raised to the amount necessary to encompass the aforestated new system upgrade, provided that in no event shall the limit be  raised more  than  five  percentage  points and shall not be in effect for more than three years, and provided further that an insurer may submit to the superintendent, for  the  superintendent's  prior  approval,  a  written request  to  temporarily  raise  the limit for up to an additional three years, for a total of no more than six years. An  insurer  shall  submit such  written  request to the superintendent at least sixty days but not more than one hundred twenty days before the expiration of  the  initial period during which the limit was raised. The insurer shall not increase premiums  solely  as a result of the management expenses cap limit being exceeded. For purposes of this  subsection,  a  new  system  upgrade  is defined  as  the acquisition of electronic data processing apparatus and related equipment constituting a  data  processing,  record  keeping  or accounting system and operating and non-operating software.  (b)  Subsection  (a)  hereof  shall  not  apply  to  a  mutual company organized before the effective date of this chapter as a domestic mutual fire or marine or marine protection and indemnity company.
NY Ins L § 4112 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4112 - Mutual Companies; Protection Against Assessments.

§  4112. Mutual companies; protection against assessments. No domestic   mutual  property/casualty  insurance   company   and   no   officer   or   representative thereof shall make any contract whether on behalf of such   company  or  of  all or any of its policyholders, whereby the company or   the policyholders are insured or indemnified against the  imposition  or   payment of assessments which may be made upon members of the company, if   the contract is cancellable or otherwise terminable by any party thereto   upon the giving of notice of cancellation or termination within a period   of  less  than one year before the effective date of the cancellation or   termination.
NY Ins L § 4113 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4113 - Mutual Companies; Non-Assessable Policies.

* § 4113.  Mutual companies; non-assessable policies. (a) Every mutual property/casualty  insurance  company  licensed  to  do business in this state, if its charter or by-laws permit or are  amended  to  permit  the issuance   of  policies  without  contingent  mutual  liability  of  the policyholder  for  assessment,  may   with   the   permission   of   the superintendent   issue   non-assessable  policies  in  this  state  upon compliance with the following requirements:  (1) It shall maintain a surplus, as determined from its  latest  filed statement,  which  together  with  its unearned premium reserve from its latest filed statement is at least equal to the surplus to policyholders required  to  be  maintained  by  a  domestic  stock   property/casualty insurance company licensed to write the same kind or kinds of insurance.  (2)  It  shall  have  submitted  a copy of its proposed non-assessable policy or policies for approval of the superintendent,  and  shall  have obtained his approval.  (b)  Every  policy  issued  by  any  such  company shall clearly state whether or not the holder of the policy is subject to  a  liability  for assessment.  (c)  Any  surplus  required for the purposes specified in this section shall be inclusive of any surplus required by any other sections of this chapter.  (d) A mutual property/casualty insurance company subject to  paragraph two of subsection (a) of section four thousand one hundred seven of this article  and  subject  to  subsection  (d)  of section four thousand one hundred eleven of this article  may  with  the  prior  approval  of  the superintendent  amend  its charter and by-laws to permit the issuance of policies without contingent mutual liability of the policyholder and may with the permission of the superintendent issue non-assessable  policies in this state upon compliance with the requirements of this section.  (e) The financial requirement specified in paragraph one of subsection (a)   hereof   shall   be   reduced   by  fifty  percent  for  a  mutual property/casualty insurance company initially licensed to do business in this state prior to July first, nineteen hundred eighty-two.   * SPECIAL NOTE.--Notwithstanding that Chapter 585 of the Laws of 1984:   Bill sections 2, 3, 5, 6, 7, and 9 of such chapter amend provisions of the former Insurance Law that are not possible to juxtapose at this time due to the highly technical nature of such changes and will need  future corrective  legislation  to  implement  such  provisions  into  the  new Insurance Law as enacted by such Chapter 367 of the Laws of 1984.
NY Ins L § 4114 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4114 - Mutual Companies; Dividends.

§  4114.  Mutual  companies;  dividends.  The  board of directors of a   mutual property/casualty insurance company may from time to time fix and   determine an amount to be declared and paid as a dividend or as a return   of unused or  unabsorbed  premiums  or  premium  deposits  on  policies,   retaining  such  sums  as  they  may  deem necessary to meet outstanding   policy obligations and for the maintenance of reserves  and  surplus  as   herein  provided.  The  determination,  declaration  and payment of such   dividend shall be subject to section one thousand two hundred eleven  of   this  chapter.  In declaring any dividend to policyholders, the board of   directors may make reasonable classifications of  policies.  Every  such   classification  shall  be  filed  with  the superintendent and shall not   become  effective  unless  approved  by  the  superintendent  as   fair,   equitable,   not   impracticable   in   operation   and   not   unfairly   discriminatory. Any such classification approved by  the  superintendent   shall  remain in effect until disapproved by the superintendent or until   withdrawn with the superintendent's approval by the company  filing  the   same.  The  requirements  as  to  filing and approval, as applied to any   foreign or alien mutual property/casualty insurance company, shall apply   only to risks located or resident in this state.
NY Ins L § 4115 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4115 - Certain Mutual Companies Existing Prior to January First, Nineteen Hundred Forty.

§  4115.  Certain  mutual  companies  existing prior to January first, nineteen hundred forty. (a) Notwithstanding the provisions  of  sections four thousand one hundred eleven, four thousand one hundred thirteen and four  thousand one hundred fourteen of this article, any domestic mutual property/casualty insurance company heretofore organized as  a  domestic mutual marine and fire insurance company under special act of this state and reincorporated pursuant to former section fifty-two of the insurance law  in  effect immediately before January first, nineteen hundred forty and doing business immediately prior to such date, may continue to issue non-assessable policies in accordance with its charter  powers,  without making any deposit, if and so long as it maintains a surplus of not less than one million dollars.  (b)  Notwithstanding  the  provisions  of  sections  one  thousand two hundred nine and one thousand two hundred eleven  of  this  chapter  and section  four  thousand  one  hundred fourteen of this article, any such domestic mutual insurance company of the kind  specified  in  subsection (a)   hereof,   may   continue   to   issue   both   participating   and non-participating policies or contracts of insurance, in accordance with its charter, and may continue to exercise its existing charter powers as to the qualification of its members and trustees and as to the  election and powers of its board of trustees.
NY Ins L § 4116 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4116 - Domestic Mutual Companies; Voting Rights of Members.

§  4116.  Domestic  mutual  companies;  voting  rights of members. The   charter or by-laws of any domestic  mutual  property/casualty  insurance   company may, with the approval of the superintendent pursuant to section   one  thousand  two  hundred  nine  of  this  chapter,  provide  for  the   distribution of voting power, at all meetings of the corporation,  among   the  members on the basis of the amount of insurance held, the number of   policies held, or the amount of premiums paid, by the member or  on  any   other basis which the superintendent finds to be fair and equitable; but   in any event every member whose insurance is in force at the time of the   election  shall be entitled to at least one vote, and no member shall be   entitled to more than ten votes.
NY Ins L § 4119 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4119 - Foreign and Alien Companies; License Qualification.

§ 4119. Foreign and alien companies; license qualification. No foreign   or  alien  property/casualty  insurance  company shall be licensed to do   business in this state unless it shall have continuously  transacted  an   insurance  business  in the state or country of its incorporation for at   least three years immediately prior to the issuance of such license. The   superintendent may waive or reduce  the  three  year  requirement,  with   respect  to  a license applicant, upon determination that the three year   period is not necessary to safeguard the  interests  of  the  public  or   policyholders.
NY Ins L § 4121 (2021)
2021 New York Laws ISC - Insurance Article 41 - Property/casualty Insurance Companies 4121 - Security May Be Required From Banking Officers and Employees.

§  4121. Security may be required from banking officers and employees. (a) The board of directors or trustees  of  each  bank,  trust  company, savings bank or savings and loan associations in this state, may require from  each  officer  and employee thereof an individual fidelity bond in favor of the institution in an amount and form approved by such board of directors or trustees.  (b) Such bond shall be accepted only from a corporation authorized  to issue  fidelity  bonds  and  doing  business  in  this  state  under the authority of the department.  (c) The premium for such bond may be paid as a  necessary  expense  of any such banking institution.
NY Ins L § 4203 (2021)
2021 New York Laws ISC - Insurance Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies 4203 - Transfer of Shares of Domestic Life Insurance Company.

§  4203. Transfer of shares of domestic life insurance company. (a) No shareholder of a domestic life insurance company shall vote  his  shares until  the  earlier  of (i) ten days after written notice of acquisition thereof has been filed with the superintendent, or (ii) one  year  after the date of acquisition thereof.  (b)  This  section  shall  apply  only to shares acquired after such a company has been licensed under this chapter.
NY Ins L § 4204 (2021)
2021 New York Laws ISC - Insurance Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies 4204 - Financial Requirements for the Organization of Stock Accident and Health Insurance Companies and Stock Legal Services Insurance Companies.

§  4204. Financial requirements for the organization of stock accident and health  insurance  companies  and  stock  legal  services  insurance companies.  (a)  (1)  A  stock  company  may  be organized in the manner prescribed in section one thousand two hundred one and subsection (e) of section one thousand one hundred two of this chapter and licensed to  do only  the  kind of insurance business specified in item (i) of paragraph three of subsection (a) of section one thousand one hundred thirteen  of this  chapter,  with  a  paid-in  capital  of  not less than one hundred thousand dollars, and a paid-in surplus at least equal to fifty  percent of  its  capital.  Every  such  company  shall  at  all times thereafter maintain a minimum capital of one hundred thousand dollars.  (2) Notwithstanding the foregoing, any such  stock  company  initially licensed  on or after July first, nineteen hundred eighty-two shall have a paid-in capital of not less than two hundred thousand  dollars  and  a paid-in surplus at least equal to fifty percent of its capital and shall at all times maintain a minimum capital of at least two hundred thousand dollars.  (b)  (1)  Any company organized under the provisions of subsection (a) of this section may be licensed to do the  kind  of  insurance  business specified  in  item  (ii)  of paragraph three, paragraph twenty-nine and paragraph thirty-one of subsection  (a)  of  section  one  thousand  one hundred  thirteen  of  this  chapter, if it has a paid-in capital of not less than one hundred fifty thousand  dollars,  and  a  paid-in  initial surplus  at  least  equal  to  fifty  percent of its capital. Every such company shall at all times maintain a minimum  capital  of  one  hundred fifty thousand dollars.  (2)  Notwithstanding  the foregoing provisions of this subsection, any such company initially licensed on or after July first, nineteen hundred eighty-two shall have a paid-in capital of not less than  three  hundred thousand  dollars  and a paid-in surplus at least equal to fifty percent of its capital and shall at all times maintain a minimum capital  of  at least three hundred thousand dollars.  (c)  A stock company may be organized to do only the kind of insurance specified in paragraph twenty-nine of  subsection  (a)  of  section  one thousand  one  hundred  thirteen of this chapter if it complies with the financial requirements of  paragraph  one  of  subsection  (a)  of  this section.
NY Ins L § 4205 (2021)
2021 New York Laws ISC - Insurance Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies 4205 - Life, Accident and Health, and Legal Services Insurance Companies; Engaging in Other Business.

§  4205.  Life,  accident  and  health,  and  legal services insurance   companies;  engaging  in  other  business.  No  life  insurance  company   licensed  to  do  a  life  insurance business in this state shall do any   business other than the kinds of business specified in  paragraphs  one,   two,  three, twenty-nine and thirty-one of subsection (a) of section one   thousand  one  hundred  thirteen,  sections  one  thousand  one  hundred   fourteen,  one  thousand  seven  hundred fourteen and three thousand two   hundred twenty-two of  this  chapter  and  such  other  business  as  is   necessarily  or properly incidental thereto. Except as stated in section   one thousand one hundred six of this chapter, this section  shall  apply   to  the  business  within  or  without this state of such a foreign life   insurance company and shall apply only to the business within the United   States of such an alien life insurance company.
NY Ins L § 4206 (2021)
2021 New York Laws ISC - Insurance Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies 4206 - Deposits by Life, Accident and Health, and Legal Services Insurance Companies.

§  4206.  Deposits  by  life,  accident and health, and legal services   insurance  companies.  Before  being  licensed  to  do  business,  every   domestic  life  insurance  company,  every  domestic accident and health   insurance company and every domestic legal  services  insurance  company   shall  deposit  with  the  superintendent  at least one hundred thousand   dollars in securities eligible for  deposits,  except  that  every  such   company  initially  licensed  on  or  after July first, nineteen hundred   eighty-two shall make a deposit with the superintendent at  least  equal   to two hundred percent of the amount required hereinabove.
NY Ins L § 4211 (2021)
2021 New York Laws ISC - Insurance Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies 4211 - Election of Directors of Domestic Stock Life Insurance Companies.

§  4211.  Election  of  directors  of  domestic  stock  life insurance companies. (a) No  election  of  directors  of  a  domestic  stock  life insurance company shall be valid unless a copy of the notice of election shall  have  been filed in the office of the superintendent at least ten days before the day of such election in addition to the service thereof, as required by section six hundred five of the business corporation law.  (b) Whenever any directors of such a company shall have  resigned  and successors  shall  have  been  chosen  pursuant to the provisions of the by-laws, such successors shall not take office nor exercise their duties until ten days after written notice of their election  shall  have  been filed in the office of the superintendent.  (c)  Policyholders  of such an insurance company shall be eligible for election as directors or officers, whether or not they are shareholders.