reglab/housing_qa huggingface dataset:
NY Ins L § 7202 (2021)
2021 New York Laws ISC - Insurance Article 72 - Domestication of the United States Branch of an Alien Insurer 7202 - Domestication of the United States Branch of an Alien Insurer Permitted.

§  7202. Domestication of the United States branch of an alien insurer permitted. (a) (1) Upon compliance with the provisions of  this  article any  licensed  alien  insurer  having  its  United States branch entered through this state and owning beneficially, directly or indirectly,  all outstanding  shares  of  a  domestic  insurer  or  of  a foreign insurer qualified and licensed in this state to write all the kinds of insurance for which the  United  States  branch  is  qualified  and  licensed  may domesticate  its  United  States branch by agreeing in writing with such domestic or foreign insurer to  the  acquisition  of  the  business  and assets,  and  the  assumption  of  all liabilities, of the United States branch, by the domestic or foreign insurer for no  consideration  except such assumption.  (2)  The  agreement may, however, provide for additional consideration payable by the issuance of shares by the acquiring insurer.  (3) The domestication shall be subject to prior  written  approval  by the  superintendent  if  the  acquiring  insurer  is domestic, or by the insurance supervisory official of the state of incorporation  if  it  is foreign.  (4)  The  domestication  shall  be  subject  to  final approval by the superintendent  and  if  the  acquiring  insurer  is  foreign   by   the supervisory official of such state.  (b)  Any  shares of the acquiring insurer or voting trust certificates therefor held among the trusteed assets of the United States  branch  or held  in a trust created by the alien insurer of which the alien insurer is a beneficiary shall be deemed to be  shares  held  beneficially,  but indirectly, by such alien insurer.  (c)  Any  acquisition of assets and assumption of liabilities pursuant to  subsection  (a)  hereof  shall  be  effected  by  filing  with   the superintendent an instrument of transfer and assumption, executed by the alien  insurer  and  the  acquiring insurer, in form satisfactory to the superintendent as to a domestic insurer or to  both  the  superintendent and  the insurance supervisory official of the state of incorporation as to a foreign insurer.  (d) The acquiring insurer may be licensed to engage in  the  insurance business  in  this  state either before entering into such domestication agreement  or,  if   the   superintendent   approves,   effective   with consummation  of  the  agreement  in  accordance  with the provisions of section seven thousand two hundred five of this article.  (e) This article shall not be construed to (i) authorize any insurance company to do any kind of  insurance  business  not  authorized  by  its charter  or  (ii) authorize any foreign or alien insurance 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 § 7203 (2021)
2021 New York Laws ISC - Insurance Article 72 - Domestication of the United States Branch of an Alien Insurer 7203 - Authorization and Execution of Domestication Agreement.

§  7203.  Authorization  and execution of domestication agreement. (a) Such domestication agreement shall  be  authorized,  adopted,  approved, signed and acknowledged by the alien insurer pursuant to the laws of the country where organized.  (b)  Such  agreement shall also be approved, adopted and authorized by the acquiring insurer's board of directors and executed by its president or any vice  president  and  attested  by  its  secretary  or  assistant secretary  under  its  corporate  seal,  or,  in  the  case of a foreign insurer, as otherwise provided in the laws of the state of its domicile.
NY Ins L § 7204 (2021)
2021 New York Laws ISC - Insurance Article 72 - Domestication of the United States Branch of an Alien Insurer 7204 - Approval by Superintendent.

§ 7204. Approval by superintendent. (a) An executed counterpart of the domestication agreement, together with certified copies of the corporate proceedings  of  the  acquiring insurer and the alien insurer approving, adopting and authorizing the execution of such domestication  agreement, and,  in  the  case  of  a  foreign insurer, the written approval of the insurance supervisory official of the state in which  the  wholly  owned foreign   insurer   is   incorporated,   shall   be   submitted  to  the superintendent for his approval.  (b) If  satisfied  that  the  agreement  is  in  accordance  with  the provisions  of  this article and that the interests of policyholders and creditors of the United  States  branch  are  not  materially  adversely affected the superintendent may approve such domestication agreement and authorize  its consummation in compliance with the provisions of section seven thousand two hundred five of this article.
NY Ins L § 7205 (2021)
2021 New York Laws ISC - Insurance Article 72 - Domestication of the United States Branch of an Alien Insurer 7205 - Consummation of Domestication Agreement; Transfer of Deposits; Withdrawal of Trusteed Assets.

§ 7205. Consummation of domestication agreement; transfer of deposits; withdrawal  of  trusteed  assets.  (a)  (1)  Upon  the  filing  with the superintendent of a certified copy of the  instrument  of  transfer  and assumption,  the  domestication  of  the  United  States branch shall be effective.  (2) Thereupon all rights, franchises  and  interests  of  such  United States  branch  in  and to every species of property, real, personal and mixed, and  things  in  action  thereunto  belonging,  shall  be  deemed transferred  to  and  vested  in  the  acquiring insurer and it shall be deemed to have assumed all liabilities of such United States branch.  (3) Simultaneously all deposits of the United States  branch  held  by superintendents,  state  officers  or  other  state  regulatory agencies pursuant to state laws shall be deemed held as  security  for  the  full performance  by  the  acquiring  insurer  of  its  assumption  as direct liabilities of all the liabilities to policyholders and creditors within the United States of such United States branch, and such desposits shall be deemed admitted assets of the acquiring insurer and reported as  such in  its  annual  financial  statements  and other reports required to be filed by it in this state.  (4) Upon the ultimate release by any such state officer or  agency  of any  such  deposits, the securities and cash released shall be delivered and paid over to such acquiring  insurer  as  the  lawful  successor  in interest to such United States branch.  (b)  Contemporaneously  with  the consummation of the domestication of the United States branch, notwithstanding the provisions of sections one thousand three hundred fifteen and one thousand three hundred  seventeen of  this  chapter,  the  superintendent  shall transfer to the acquiring insurer's account the securities deposited by such United States  branch in   compliance   with   the   provisions   of  this  chapter,  and  the superintendent shall consent that the trustee  of  the  trusteed  assets deposited by such United States branch in compliance with the provisions of  this  chapter shall withdraw from the trust and transfer and deliver to the acquiring insurer all assets held by such trustee. However, if  a United  States  branch  is  domesticated  into  a  foreign  insurer, the superintendent,  unless  otherwise  satisfied  that  the  interests   of policyholders  of  in  force  business  and  of creditors on outstanding claims are protected, may defer consent to the withdrawal of so much  of the trusteed assets as in his judgment is reasonably required to protect such  interests as of the date of domestication; and he shall consent to their withdrawal from time to time as such interests expire.
NY Ins L § 7301 (2021)
2021 New York Laws ISC - Insurance Article 73 - Conversion to Different Type of Insurer 7301 - Prohibited Conversion.

§  7301. Prohibited conversion. No insurer organized or licensed under   this chapter shall convert to a different  type  of  insurer  except  as   provided in this article.
NY Ins L § 7303 (2021)
2021 New York Laws ISC - Insurance Article 73 - Conversion to Different Type of Insurer 7303 - Conversion of Retirement Systems Into Mutual Life Insurance Companies.

§  7303.  Conversion  of retirement systems into mutual life insurance   companies. Any retirement system licensed pursuant to article  forty-six   of  this  chapter  may  be  converted into and licensed as a mutual life   insurance company, to do the kinds of business specified  in  paragraphs   one, two and three of subsection (a) of section one thousand one hundred   thirteen  of  this chapter, provided that at the time of such conversion   it has a surplus of at least three million dollars and provided  further   that  its  plan  of  conversion has been approved by the superintendent.   Such plan shall be submitted to the superintendent in writing and  shall   set  forth  in  full  the  terms  and  conditions  thereof. The board of   trustees of the retirement  system  shall,  after  adopting  such  plan,   submit  it  to  the members of such retirement system, as defined by its   constitution, by-laws or declaration of trust, at any regular or special   meeting of such members, by giving a full, true and correct copy of such   plan with notice of such meeting. Such notice shall be given as provided   in  the  constitution  or  by-laws  or  declaration  of  trust  of  such   retirement  system  for  the  convocation  of  such  regular  or special   meeting. The affirmative votes of  two-thirds  of  the  members  of  the   retirement  system  eligible  to  vote who vote in person or by proxy at   such regular or special meeting shall be necessary for the  approval  of   the plan. The superintendent may grant such approval if, after a hearing   upon  the  fairness  of  the plan after written notice of the hearing is   given to each member  of  the  retirement  system  for  distribution  to   participants in its employ and publication in at least two newspapers of   general  circulation,  at  which  hearing such members and participating   employees will have a right to appear, the superintendent finds that the   proposed conversion conforms to the requirements of law and is  fair  to   the members and participating employees of such retirement system.
NY Ins L § 7304 (2021)
2021 New York Laws ISC - Insurance Article 73 - Conversion to Different Type of Insurer 7304 - Conversion of Fraternal Benefit Societies Into Mutual Life Insurance Companies.

§  7304.  Conversion  of  fraternal benefit societies into mutual life   insurance companies. Any domestic fraternal benefit society, as  defined   in  subsection  (a)  of  section  four thousand five hundred one of this   chapter, may be converted into and licensed as a mutual  life  insurance   company, to furnish the kinds of benefits authorized by such section, by   compliance  with  all  the  requirements  of  section  four thousand two   hundred eight of this chapter  if  such  plan  of  conversion  has  been   approved  by  the  superintendent.  Such  plan shall be submitted to the   superintendent in writing and shall set forth  in  full  the  terms  and   conditions  thereof.  The  board  of  directors  or other executive body   charged with responsibility for  management  of  the  society's  affairs   shall,  after adopting the plan, submit it to the supreme governing body   of such society at any regular or special meeting thereof, by  giving  a   full,  true  and  correct copy of such plan with notice of such meeting.   Such notice shall be given as provided in the laws of  the  society  for   the  convocation  of  such  supreme governing body in regular or special   session, as the case may be. The affirmative votes of two-thirds of  all   members  of  such  supreme  governing  body  shall  be necessary for the   approval of such plan. The superintendent may give his  approval  if  he   finds  that  the proposed conversion conforms to the requirements of law   and is not prejudicial to the certificate holders of the society.
NY Ins L § 7315 (2021)
2021 New York Laws ISC - Insurance Article 73 - Conversion to Different Type of Insurer 7315 - Reorganization of Domestic Life Insurance Companies.

§   7315.   Reorganization   of  domestic  life  insurance  companies.   Notwithstanding any other provision of this chapter, a  domestic  mutual   life  insurance  company  which  has  a surplus of less than one million   dollars as shown on its last filed annual statement may reorganize  into   a  domestic  stock  life  insurance company in accordance with a plan of   reorganization found by the superintendent to be fair and equitable.
NY Ins L § 7401 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7401 - Application of Article; Definitions.

§  7401.  Application  of article; definitions. (a) This article shall apply to all corporations, associations, societies, orders,  firms,  and individuals to which this chapter is applicable, or which are subject to examination  or  supervision by the superintendent under this chapter or under any other law of this state, or which are doing or  attempting  to do or representing that they are doing the business of insurance in this state,  or  which  are  in process of organization for the purpose of or intending to do such business therein, anything in this chapter  or  any other law of this state to the contrary notwithstanding.  (b) In this article:  (1) "insurer"  includes  all  corporations,  associations,  societies, orders, firms, and individuals specified in subsection (a) hereof;  (2) "assets" includes all deposits and funds of  a  special  or  trust nature.
NY Ins L § 7404 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7404 - Grounds for Liquidation.

§  7404.  Grounds  for liquidation. The superintendent may apply under   this article for an order directing the superintendent to liquidate  the   business  of  a  domestic  insurer, or of the United States branch of an   alien insurer having trusteed assets in this  state,  upon  any  of  the   grounds  specified  in  subsections  (a)  through  (o)  of section seven   thousand four hundred two of this article, whether or not there has been   a prior order directing the superintendent to rehabilitate such insurer.
NY Ins L § 7406 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7406 - Grounds for Conservation of Assets of Foreign or Alien Insurer.

§  7406.  Grounds  for  conservation  of  assets  of  foreign or alien insurer. (a) The superintendent may apply  under  this  article  for  an order  directing  the  superintendent  to conserve the assets within the state of a foreign insurer upon:  (1) any of the grounds specified in subsection (a) through  (g),  (j), (k)  or  (o) of section seven thousand four hundred two of this article, or  (2) upon the ground that such insurer has consented to such  an  order through a majority of its directors, shareholders or members, or has had its  property sequestrated in its domiciliary country or state or in any other country or state.  (b) The superintendent may apply  under  this  article  for  an  order directing  him  to  conserve  the  assets  within this state of an alien insurer, except one which has its trusteed assets in this state, on  any of the grounds specified in subsection (a), (b), (d) through (g), (j) or (k)  of section seven thousand four hundred two of this article, or upon the ground that it has failed or refused  to  comply,  within  the  time designated  by  the superintendent, with an order of the superintendent, pursuant to law, to rectify an impairment of its  trusteed  surplus,  or that  it  has  consented  to  such  an  order  through a majority of its directors, shareholders or members, or has had its property sequestrated in its domiciliary country or elsewhere.
NY Ins L § 7407 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7407 - Order of Conservation or Ancillary Liquidation of a Foreign or Alien Insurer.

§ 7407. Order of conservation or ancillary liquidation of a foreign or alien insurer. (a) An order to conserve the assets of a foreign or alien insurer shall direct the superintendent and his successors in office, as conservator,   forthwith  to  take  possession  of,  and  conserve,  the insurer's property within this state, subject  to  the  court's  further direction.  (b)  Where  the  superintendent  has  been  appointed  pursuant to the provisions of section seven thousand four hundred six of this article as conservator of the assets  within  the  state  of  a  foreign  or  alien insurer,  for which a domiciliary receiver is subsequently appointed for such insurer in its domiciliary state which is also a reciprocal  state, as defined in section seven thousand four hundred eight of this article, the  superintendent,  upon  request  of the domiciliary receiver, shall, notwithstanding subsection (a) of section seven  thousand  four  hundred ten  of  this  article,  apply  to  the court in which such conservation proceeding was commenced for an order appointing the  superintendent  as ancillary receiver for such foreign or alien insurer.  (c)  Whenever  a  domiciliary receiver is appointed for any insurer in its domiciliary state which is also a reciprocal state,  as  defined  in section   seven  thousand  four  hundred  eight  of  this  article,  the superintendent,  upon  request  of  the  domiciliary  receiver,   shall, notwithstanding  subsection  (a)  of section seven thousand four hundred ten of this article, apply to a court of competent jurisdiction  for  an order  appointing  the  superintendent  as  ancillary  receiver  of such insurer.  (d) Notwithstanding subsection (a)  of  section  seven  thousand  four hundred  ten  of  this  article, the court may on the application of the superintendent pursuant to subsection (b) or (c) of this section appoint the superintendent as the ancillary receiver in this state,  subject  to the  provisions  of  sections  seven thousand four hundred eight through seven thousand four hundred fifteen of  this  article.  Subject  to  the provisions of such sections, the rights and duties of the superintendent with  reference  to  such  insurer  and  such assets shall include those heretofore exercised by and imposed upon ancillary receivers of  foreign corporations in this state.
NY Ins L § 7409 (2021)
2021 New York Laws ISC - Insurance Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers 7409 - Conduct of Delinquency Proceedings Against Insurers Domiciled in This State.

§  7409. Conduct of delinquency proceedings against insurers domiciled in this state. (a) Whenever under the laws of this state a  receiver  is to  be  appointed in delinquency proceedings for an insurer domiciled in this state, the court shall appoint the superintendent as such  receiver and direct the superintendent forthwith to take possession of the assets of the insurer and to administer the same under the orders of the court.  (b)  As  domiciliary receiver the superintendent and his successors in office shall be vested by  operation  of  law  with  the  title  to  all property,  contracts, and rights of action, and all books and records of the insurer wherever located, as of the  date  of  entry  of  the  order directing  him  to  liquidate  a  domestic  insurer or the United States branch of an alien insurer domiciled in this state, and  he  shall  have the  right to recover the same and reduce the same to possession; except that ancillary receivers in reciprocal states shall have, as  to  assets located  in  their  respective states, the rights and powers hereinafter prescribed for ancillary receivers appointed in this state as to  assets located  in  this  state. The filing or recording of the order directing possession to be taken, or a certified copy thereof, in the office where instruments affecting title to property are  required  to  be  filed  or recorded  shall  impart  the same notice as would be imparted by a deed, bill of sale, or other evidence of title duly  filed  or  recorded.  The superintendent  as  domiciliary  receiver  shall  be responsible for the proper administration of  all  assets  coming  into  his  possession  or control. The court may at any time require bond from him or his deputies if deemed desirable for the protection of the assets.  (c)  Upon  taking possession of the assets of a delinquent insurer the domiciliary receiver shall, subject  to  the  direction  of  the  court, immediately  proceed  to  conduct the business of the insurer or to take such steps as are authorized by the laws of this state for  the  purpose of  liquidating, rehabilitating, reorganizing, or conserving the affairs of the insurer.  In  connection  with  delinquency  proceedings  he  may appoint special deputy superintendents, and employ such counsel, clerks, and  assistants  as  he  deems  necessary.  Their  compensation  and all expenses of taking possession of  the  insurer  and  of  conducting  the delinquency  proceedings  shall be fixed by the receiver, subject to the approval of the court, and shall be paid out of the funds or  assets  of the  insurer.  Within the limits of the duties imposed upon them special deputies shall possess all the powers given to, and, in the exercise  of those  powers, shall be subject to all duties imposed upon, the receiver with respect to delinquency proceedings.