reglab/statecodes huggingface dataset:
2023 New York Laws › ISC - Insurance › Article 3 - Administrative and Procedural Provisions › 345 - Health Care Claims Reports.

§  345.  Health  care  claims  reports. An insurer authorized to write
  accident and health insurance in  the  state,  a  corporation  organized
  pursuant to article forty-three of this chapter, or a health maintenance
  organization  certified  pursuant  to  article  forty-four of the public
  health law shall report to the superintendent quarterly and annually  on
  health  care  claims  payment  performance with respect to comprehensive
  health insurance coverage. The reports shall be submitted in the  manner
  and  form  prescribed  by  the  superintendent  after  consultation with
  representatives of insurers and health care  providers  but  at  minimum
  shall include the number and dollar value of health care claims by major
  line  of  business  and  categorized  as  follows:  health  care  claims
  received, health care claims paid, health care claims pended and  health
  care claims denied during the respective quarter or year. The data shall
  be  provided  in  the  aggregate  and  by  major category of health care
  provider. The reports should address any patterns or suspected areas  of
  revenue maximization that may have contributed to the number of denials.
  The  reports shall be due to the superintendent no later than forty-five
  days after the end of the respective quarter or year and shall  be  made
  publicly   available   including   on   the  department's  website.  The
  superintendent, in conjunction with  the  commissioner  of  health,  may
  promulgate  regulations  requiring  additional reporting requirements on
  insurers, corporations, or health maintenance  organizations  or  health
  care  providers  to assess the effectiveness of the payment policies set
  forth in this section, which  may  be  informed  by  the  administrative
  simplification  workgroup  authorized by subsection (k) of section three
  thousand two hundred twenty-four-a of this chapter.
2023 New York Laws › ISC - Insurance › Article 4 - Insurance Frauds Prevention › 401 - Title; Legislative Declaration and Purpose.

§  401. Title; legislative declaration and purpose. This article shall
be known and may be cited as the "insurance frauds prevention act".
(a) The legislature finds and declares that the business of  insurance
directly  and indirectly affects all sectors of the public, business and
government. It further finds that the business of  insurance,  including
organization and licensing, the issuance of policies, and the adjustment
and  payment  of claims and losses, involve many transactions which have
potential for abuse and illegal activities.
(b) Arson for insurance fraud is a particularly damaging crime against
society, destroying lives, property and neighborhoods. Insurance  losses
resulting  from  arson  are  reflected  in  higher  premiums  charged to
residents of this state.
(c)  This  article  establishes   a   framework   within   which   the
superintendent  and  the  department  can more effectively assist in the
elimination of arson  for  insurance  fraud.  That  increased  capacity,
together  with  a  more  effective  monitoring  of  fire loss claims and
payments by the insurance industry  through  centralized  reporting  and
oversight, is intended to make it more difficult to perpetrate the crime
of insurance fraud by arson.
2023 New York Laws › ISC - Insurance › Article 4 - Insurance Frauds Prevention › 404 - Procedures.

§  404.  Procedures.   (a) If the superintendent has reason to believe
that a person has engaged in, or is  engaging  in,  an  act  defined  in
section  155.05 of the penal law, with respect to personal or commercial
insurance transactions, the business of life settlements, section 176.05
or section  176.40  of  such  law,  the  superintendent  may  make  such
investigation  within  or without this state as the superintendent deems
necessary to aid in the enforcement of  this  chapter  or  to  determine
whether  any  person  has  violated  or  is  about  to  violate any such
provision of the penal law.
(b) A person having material located outside the state  and  requested
by the superintendent may make it available to the superintendent or his
representative  to  be  examined  at  the place where it is located. The
superintendent may designate representatives, including officials of the
state in which the material is located, to inspect the material  on  his
behalf,  and  he may respond to similar requests from officials of other
states.
2023 New York Laws › ISC - Insurance › Article 4 - Insurance Frauds Prevention › 405 - Reports.

§  405. Reports. (a) Any person licensed or registered pursuant to the
provisions of this chapter, and any person engaged in  the  business  of
insurance  or  life  settlement  in  this  state  who  is  exempted from
compliance with the licensing requirements of  this  chapter,  including
the  state  insurance fund of this state, who has reason to believe that
an insurance transaction or life settlement act may  be  fraudulent,  or
has knowledge that a fraudulent insurance transaction or fraudulent life
settlement  act is about to take place, or has taken place shall, within
thirty days after determination by  such  person  that  the  transaction
appears  to  be  fraudulent,  send  to  the  superintendent  on  a  form
prescribed by the superintendent, the information requested by the  form
and such additional information relative to the factual circumstances of
the  transaction  and  the  parties  involved  as the superintendent may
require. The superintendent shall accept reports of suspected fraudulent
insurance transactions or fraudulent life settlement acts from any  self
insurer,  including  but  not  limited to self insurers providing health
insurance coverage or those defined in section  fifty  of  the  workers'
compensation  law,  and  shall  treat such reports as any other received
pursuant to this section.
(b) The superintendent shall review each  report  and  undertake  such
further  investigation  as the superintendent deems necessary and proper
to determine the validity of the allegations.
2023 New York Laws › ISC - Insurance › Article 4 - Insurance Frauds Prevention › 407 - Other Law Enforcement Authority, Powers and Duties Not Affected or Impaired.

§ 407. Other law enforcement authority, powers and duties not affected
or impaired. This article shall not:
(a) Preempt the authority or relieve the duty of other law enforcement
agencies to investigate and prosecute suspected violations of law.
(b)  Prevent  or  prohibit  a  person  from voluntarily disclosing any
information concerning violations of this article to any law enforcement
agency.
(c) Limit any of the powers granted  elsewhere  in  this  chapter  and
other  laws  to  the  superintendent  or  the  department to investigate
possible violations of this chapter and take appropriate action  against
wrongdoers.
2023 New York Laws › ISC - Insurance › Article 5 - Certificates of Insurance › 501 - Definitions.

§ 501. Definitions. For purposes of this article:
(a)  "Certificate" or "certificate of insurance" means any document or
instrument, or addendum thereto  no  matter  how  titled  or  described,
prepared  or  issued  by an insurer or insurance producer as evidence of
property/casualty insurance coverage. "Certificate" or  "certificate  of
insurance"  shall  not  include  a  policy  of insurance or an insurance
binder.
(b) "Certificate holder" means any person, other than a  policyholder,
that is identified on the certificate as a certificate holder.
(c)  "Insurance producer" has the meaning ascribed to it by subsection
(k) of section two thousand one hundred one of this chapter.
(d) "Insurer" means any person "doing an  insurance  business"  within
the meaning of this chapter.
(e)   "Person"   means   any   individual,  partnership,  corporation,
association, or other entity, but shall  not  include  any  governmental
entity,  or any agency, board, bureau, commission, department, division,
institution, office, or public authority of a state, federal or  foreign
government.
(f)  "Governmental  entity"  means  any  public  entity  as defined in
paragraph fifty-one of subsection (a) of section one  hundred  seven  of
this  chapter,  any  state  authority  as  defined in subdivision one of
section two of the  public  authorities  law,  any  local  authority  as
defined in subdivision two of section two of the public authorities law,
and  any interstate or international authority as defined in subdivision
three of section two of the public authorities law  and  any  individual
acting  in  his  or  her  capacity  as  an employee, officer, or elected
official of any such governmental entity.
(g) "Policyholder" means a person who has contracted with  an  insurer
for property/casualty insurance coverage.
(h)  "Property/casualty  insurance"  means a kind of insurance that is
either a basic kind of insurance or a non-basic kind  of  insurance,  as
such  terms are defined in section four thousand one hundred one of this
chapter, but shall not include  a  kind  of  insurance  specified  under
paragraph  three or thirty-one of subsection (a) of section one thousand
one hundred thirteen of this chapter.
2023 New York Laws › ISC - Insurance › Article 5 - Certificates of Insurance › 502 - Prohibitions.

§ 502. Prohibitions. In this state:
(a)  With  respect  to  a  certificate  of insurance evidencing that a
policy provides personal injury liability insurance or  property  damage
liability  insurance,  as defined in paragraphs thirteen and fourteen of
subsection (a) of section one thousand  one  hundred  thirteen  of  this
chapter,  no  person or governmental entity shall wilfully require, as a
condition of awarding a contract for work, or if a contract has  already
been  awarded  as a condition for work to commence or continue under the
contract, or if the contract has been performed or  partially  performed
as  a  condition for payment to be made under the contract, the issuance
of a certificate of insurance unless the certificate is:
(1) a form promulgated by the insurer issuing the policy referenced in
the certificate of insurance; or
(2) a standard certificate of insurance form  issued  by  an  industry
standard-setting organization and approved for use by the superintendent
or any other form approved for use by the superintendent.
(b)  No  person  or  governmental  entity  shall  wilfully require the
inclusion of terms,  conditions  or  language  of  any  kind,  including
warranties or guarantees, that the insurance policy provides coverage or
otherwise sets forth terms and conditions in a certificate of insurance,
if the insurance policy referenced by such certificate of insurance does
not   expressly  include  such  terms,  conditions,  or  language.  This
subsection shall not prohibit any person  or  governmental  entity  from
including  minimum  insurance  requirements,  coverage limits, terms, or
other conditions in the solicitation of bids as part  of  a  competitive
process,  and  it  shall  not prohibit any person or governmental entity
from requesting, or an insurer or insurance producer from responding  to
such a request with, clarification regarding the terms of the policy, or
endorsement thereto.
(c)  A  certificate of insurance shall not amend, extend, or alter the
coverage provided by the insurance policy to which  the  certificate  of
insurance  makes reference. A certificate of insurance shall further not
confer to any person any rights beyond those expressly provided  by  the
policy of insurance referenced therein.
2023 New York Laws › ISC - Insurance › Article 5 - Certificates of Insurance › 503 - Enforcement.

§  503.  Enforcement.  If  the  superintendent finds, after notice and
  hearing, that any person, other than a governmental entity, has wilfully
  violated this article, then the superintendent may order the  person  to
  pay  to  the  people  of  this  state a penalty in a sum of one thousand
  dollars for the first  violation  and  two  thousand  dollars  for  each
  subsequent violation.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1103 - Duration of Licenses.

§  1103.  Duration of licenses. (a) Every license issued to a domestic
insurer shall be for an  indefinite  term  and  shall  expire  with  the
expiration or termination of its corporate existence.
(b)  Every  license,  including  every  renewal  license,  issued to a
foreign or alien insurer shall be for a term expiring on June  thirtieth
following the date of issuance, except that at any time after a licensed
foreign  or  alien  insurer  has  filed its annual statement pursuant to
section three hundred seven of this chapter the superintendent may issue
to such insurer a renewal license for the next year.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1105 - Voluntarily Ceasing to Maintain License.

§  1105.  Voluntarily  ceasing to maintain license. When an authorized
  insurer proposes to cease to maintain its existing licensing  status  in
  this  state,  the  insurer  shall at least forty-five days prior to such
  proposed action submit to the  superintendent  a  plan  to  protect  the
  interests  of  the  people of this state. Such proposed action shall not
  become  effective  without  the   approval   of   such   plan   by   the
  superintendent.  The  plan shall include requirements and procedures for
  meeting  the  insurer's  contractual  obligations,  providing   security
  protection  in  the  event  of  a subsequent insolvency, and meeting any
  applicable statutory obligations, including its obligations pursuant  to
  articles  fifty-three,  fifty-four  and fifty-five of this chapter. Such
  plan shall be in compliance with a regulation to be promulgated  by  the
  superintendent.  A  plan  may  request  that the insurer be permitted to
  continue or service a life insurance policy  or  annuity  contract  from
  outside  this  state  by  telephone,  video call, facsimile, web portal,
  electronic transfer of funds,  or  by  any  other  electronic  means  as
  approved by the superintendent pursuant to subparagraph (C) of paragraph
  two  of  subsection  (b) of section one thousand one hundred one of this
  article. In order to protect the interests of the people of this  state,
  the  superintendent may require the deposit of securities in this state,
  in trust, in the name of the superintendent.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1107 - Licenses for Unincorporated Insurers.

§  1107. Licenses for unincorporated insurers. (a) No individual shall
be or remain licensed to write fidelity and surety insurance who, in any
court of this state having criminal  jurisdiction  or  in  any  criminal
action  or proceeding, deposits money or property as bail for another or
executes as surety any bail bond.
(b) No individual shall be or  remain  licensed  to  do  an  insurance
business,  as an insurer unless he is a resident of this state, complies
with all requirements of this chapter as to capital, surplus,  reserves,
liabilities,  investments,  deposits  and  other  financial requirements
imposed upon insurers  doing  the  same  kinds  of  insurance  business,
confines  his  business  exclusively  to  such  insurance  business  and
business authorized pursuant  to  the  provisions  of  this  chapter  as
incidental  thereto,  and  in  all respects conforms to all requirements
imposed upon such insurance companies, except as to corporate  existence
and  requirements  incidental  thereto.  No  individual insurer shall do
business under a corporate or fictitious name or under any  name,  style
or title other than the true name of such individual.
(c)  This  section  shall  not affect the authority to do an insurance
business conferred upon a  reciprocal  insurer  or  Lloyds  underwriters
pursuant to article sixty-one of this chapter.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1109 - Limited Exemption for Health Maintenance Organizations.

§ 1109. Limited exemption for health maintenance organizations. (a) An
organization  complying with the provisions of article forty-four of the
public health law may operate without being licensed under this  chapter
and without being subject to any provisions of this chapter, except: (1)
to  the extent that such organization must comply with the provisions of
this chapter by virtue of  such  article,  and  (2)  the  provisions  of
sections  three  hundred  eight,  one  thousand  three  hundred one, one
thousand three hundred  two,  one  thousand  three  hundred  seven,  one
thousand  three  hundred  twenty-two,  with regard to health maintenance
organizations  that  are  domiciled  in  this  state  and  certified  or
operating  in  at least one other state, two thousand one hundred three,
two thousand one hundred twelve, two thousand one hundred fourteen,  two
thousand  one  hundred  fifteen, two thousand one hundred seventeen, two
thousand one hundred twenty-three, two thousand six hundred eight-a, two
thousand six hundred twelve, three thousand two  hundred  twenty-four-a,
four   thousand   three  hundred  eight,  four  thousand  three  hundred
seventeen, four thousand three hundred  eighteen,  four  thousand  three
hundred  twenty,  four  thousand three hundred twenty-one, four thousand
three hundred twenty-two and four thousand three hundred twenty-three of
this chapter.
(b) An organization which provides health care services for a periodic
fee paid in advance but which does not comply  with  the  provisions  of
article  forty-four  of  the  public  health  law  shall be deemed to be
engaged in the business of insurance and may not operate  without  being
licensed under this chapter.
(c)  An organization referred to in subsection (a) or (b) hereof shall
be subject to article seventy-four of this chapter.
(d)  A  health  maintenance  organization  may  make  any   investment
permitted for a health service corporation organized pursuant to article
forty-three  of  this  chapter  provided  that the superintendent, after
consultation with the commissioner of health, may modify such investment
requirements, if such modification would permit the organization to more
effectively implement its program without incurring undue  risk  to  its
subscribers.
(e)  The superintendent may promulgate regulations in effectuating the
purposes and provisions of this chapter and article  forty-four  of  the
public  health  law  and  may  modify  requirements  applicable  to  the
contracts between a health maintenance organization and its subscribers,
subject to such limitations as the superintendent shall  deem  necessary
or proper to insure the performance of such contracts.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1112-A - Reports.

§  1112-a.  Reports.    On  or  before  March  first  of each year the
  superintendent shall report the amounts imposed and required to be  paid
  pursuant  to  section  twenty-eight hundred seven-t of the public health
  law that are allowed on returns filed during the preceding calendar year
  as credits in assessing the taxes imposed by section  one  thousand  one
  hundred  twelve  of  this  chapter.  Such  report shall also include the
  amount, if any, by which taxes due and owing pursuant  to  such  section
  one  thousand  one  hundred  twelve  have  been  reduced  because of the
  allowance of such credits. Such report shall be provided to the director
  of the budget and the commissioner of health.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1114 - Reinsurance Business.

§  1114.  Reinsurance  business.  (a)  Any  domestic  stock  or mutual
insurance corporation or reciprocal insurer may reinsure only the  kinds
of  insurance business which it is licensed to do in this state or which
it is otherwise authorized to reinsure by the terms of its license.  Any
such corporation may confine its business to reinsurance.
(b)  Any  foreign  or  alien  stock or mutual insurance corporation or
reciprocal insurer may engage in this state in reinsurance of the  kinds
of  insurance  which  it  is  licensed  to  do  in  this state. Any such
corporation may confine its business to reinsurance.
(c) An insurer authorized by any provision of this chapter  to  engage
in  fidelity  and  surety  insurance  or  reinsurance  business may also
guarantee performance of a contract insuring against physical damage  to
property  in  favor  of  mortgagees  or  other loss payees named in such
contract, provided:
(1) It is authorized to engage in the kinds of insurance  included  in
such contract;
(2)  It has assumed reinsurance on the guaranteed contract in whole or
in part;
(3) It is charged with such amount as part  of  its  unearned  premium
reserve  as  may  be  prescribed by regulation of the superintendent not
exceeding the amount it would be required to maintain in accordance with
the provisions of this chapter if it were  the  direct  insurer  of  the
guaranteed risks; and
(4)  If  the  property is located in this state, the ceding insurer is
licensed to engage in the kinds of insurance included in such contracts.
(d) An insurer authorized by any  provision  of  this  chapter  to  do
business  of  the  kinds  referred  to in paragraph one, two or three of
subsection (a) of section one thousand  one  hundred  thirteen  of  this
article  may  also reinsure, by itself, or together with other insurance
companies subject to any regulations of  the  superintendent,  any  risk
referred  to in such subsection arising from, related to, or incident to
the manufacture, ownership or operation of aircraft.
(e) Any health service corporation organized under article forty-three
of this chapter is authorized to engage in reinsurance of policies of:
(1) any other corporation organized under article forty-three of  this
chapter;
(2)  any  health  maintenance  organization  organized  under  article
forty-four of the public health law; and
(3) long term care insurance issued by accident  and  health  insurers
organized under article forty-two of this chapter.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1119 - Limited Exemption for Continuing Care Retirement Communities.

§  1119. Limited exemption for continuing care retirement communities.
(a) An organization complying with the provisions of  article  forty-six
of  the  public health law may operate without being licensed under this
chapter and without being subject to any  provisions  of  this  chapter,
except  to  the  extent  that  such  organization  must  comply with the
provisions  of  this  chapter  by  virtue  of  such  article,  and  such
organization   must   comply   with   rules   and   regulations  of  the
superintendent relating to:
(1) financial feasibility of the continuing care retirement community,
(2) actuarial principles established relating to such communities,
(3) approval of continuing care retirement contracts and the rates and
rating system, if any, for such contracts.
(b) The superintendent may promulgate regulations in effectuating  the
purposes and the provisions of this chapter and article forty-six of the
public  health  law,  which  may  include requirements applicable to the
contracts  between  a  continuing  care  retirement  community  and  its
residents.
(c)  Such  organization  shall be subject to the provisions of article
seventy-four of this chapter. Prior to commencing action  under  article
seventy-four,  the superintendent shall consult with the continuing care
retirement community council established pursuant to  section  forty-six
hundred two of the public health law.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1123 - Immigration Bail Business.

§ 1123. Immigration   bail   business.   (a)(1)   Any   person,  firm,
corporation, or other entity who shall  for  another  deposit  money  or
property as bail or execute as surety any bond in any immigration action
or  proceeding who within a period of one month prior thereto shall have
made such a deposit or given such  bail  in  more  than  two  cases  not
arising  out  of  the  same  transaction  shall be deemed to be doing an
immigration bail business.
(2) Except for a corporation authorized to write fidelity  and  surety
insurance  and  to  do  an  immigration  bail  business  pursuant to the
provisions of this article and otherwise in compliance  with  all  other
requirements  of  this  chapter  to  do  such business, no person, firm,
corporation, or  other  entity  shall  engage  in  an  immigration  bail
business in this state.
(b)  (1)  No  person, firm, corporation, or other entity shall in this
state do an insurance  business  or  an  immigration  bail  business  as
defined in subsection (a) of this section unless authorized by a license
issued and in force as provided under this article.
(2)  The  superintendent  may  authorize a property/casualty insurance
company that is authorized to write fidelity and surety insurance to  do
an  immigration  bail business in accordance with the provisions of this
article, but no individual or  entity  shall  be  licensed  to  do  such
business.
(c)  Any person, firm, corporation, or other entity that violates this
section shall be subject to the penalty set forth in subsection  (a)  of
section one thousand one hundred two of this article.
(d)  Any  agreement  entered into by an entity subject to this section
that is not authorized to do an immigration bail business in  accordance
with the provisions of this article shall be void and unenforceable.
2023 New York Laws › ISC - Insurance › Article 11 - Licensing of Insurers › 1124*2 - Managed Care Health Savings Account.

* §   1124.   Managed  care  health  savings  account.  (a)  A  health
maintenance organization certified pursuant to article forty-four of the
public health law may offer a group  high  deductible  health  plan,  as
defined  in  paragraph  two  of  subsection  c  of  section  two hundred
twenty-three of the internal revenue code in conjunction with  a  health
reimbursement  account  or a health savings account established pursuant
to federal tax law, when:
(1) The employer group  purchasing  the  high  deductible  plan  is  a
municipality, and
(2)  The employer is obligated to contribute, pursuant to a collective
bargaining agreement or other binding arrangement with its employees, an
amount at least equal to the  deductible  required  under  the  plan  on
behalf of each enrolled employee.
(b)  A  high deductible health plan offered pursuant to subsection (a)
of this section, which  otherwise  meets  the  requirements  of  article
forty-four  of  the  public  health  law,  shall  be  deemed  to provide
comprehensive health services and shall not be disapproved  due  to  its
cost share arrangement.
(c) A municipality for purposes of this section means a town.
(d)  A  health  maintenance  organization offering the high deductible
health plan pursuant to this section shall report to the  superintendent
and  commissioner  of  health the number of covered lives under the high
deductible health plan offered pursuant  to  this  section  compared  to
similar  non-high  deductible  health  plans,  the  premiums of the high
deductible health plan offered pursuant  to  this  section  compared  to
similar  non-high  deductible  health plans, the claims experience under
the high  deductible  health  plan  offered  pursuant  to  this  section
compared  to  similar  non-high  deductible  health plans, and any other
pertinent information that may be required by the superintendent or  the
commissioner of health prior to April first, two thousand fourteen.
(e)  The  provisions  of  this  section  shall  only apply to coverage
offered pursuant to a collective bargaining agreement entered into prior
to the effective date of this section.
* NB Repealed December 31, 2024
* NB There are 2 § 1124's
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1203 - Non-Use of Corporate Charter.

§  1203.  Non-use  of  corporate  charter.  (a) Any domestic insurance
company which, after one year from the date of  its  incorporation,  has
not  organized  and obtained a certificate of authority or license to do
an insurance business, shall, unless granted an extension,  forfeit  its
corporate  charter,  and  the  superintendent  may  thereupon commence a
proceeding, pursuant to the provisions of article seventy-four  of  this
chapter,  to liquidate and dissolve such corporation. The superintendent
may for good cause shown grant a  written  extension  of  such  one-year
period  upon  a  written  request  filed  with him within such period or
during the pendency of any  examination  or  investigation  pursuant  to
paragraph  one of subsection (e) of section one thousand one hundred two
of this chapter, whichever is longer.
(b) Any domestic insurer which ceases to do any insurance business for
more than one year continuously shall forfeit its  right  to  resume  an
insurance   business,   except   with   the   prior   approval   of  the
superintendent.   Unless   such   approval   shall   be   granted,   the
superintendent  may commence a proceeding, pursuant to the provisions of
article seventy-four of this chapter, to  liquidate  and  dissolve  such
insurer.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1205 - Existing Corporations.

§  1205. Existing corporations. Any insurance corporation incorporated
under the provisions of any law of this state and doing business  as  an
authorized  insurer  at  the  effective  date  of  this chapter shall be
subject  to  the  provisions  of  this  chapter  relating  to   such   a
corporation, except that:
(a) It shall be entitled to exercise all powers conferred by virtue of
its  charter  as in effect on the effective date of this chapter, during
the term thereof, unless specifically prohibited by or pursuant to law.
(b) Subject to article seventy-four  of  this  chapter,  its  duration
shall be perpetual.
(c)  If it has a guarantee capital represented by shares, it may amend
any of the provisions of its charter.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1208 - Method of Amending Mutual Company Charters.

§  1208.  Method  of  amending mutual company charters. (a) A domestic
mutual insurance corporation may change its name, or  amend  or  restate
its  charter  in  the  form  prescribed by article eight of the business
corporation law. Except as specified in subsections (b) and (c)  hereof,
the following requirements shall apply to certificates of change of name
and amended or restated charters of such corporations:
(1)  The  corporation's president or secretary shall call a meeting of
its members pursuant to its by-laws, specifying  any  amendments  to  be
voted upon at such meeting;
(2) If at such meeting three-fourths of the members present and voting
in  person or by proxy vote in favor of any amendments so specified, the
corporation's president and secretary shall make a certificate, verified
by their oaths, to the effect that the amendments were duly  adopted  by
at  least  a  three-fourths  vote of the members present in person or by
proxy at a meeting duly called for such purpose and  setting  forth  the
call for such meeting, the fact of service of such call upon all members
of record on a specified date, and the minutes of such meeting; and
(3)  Such certificate shall, within thirty days after such meeting, be
submitted to the superintendent for his approval as  conforming  to  the
requirements of law.
(b)  A  domestic  mutual  insurance corporation except as specified in
subsection (c) hereof, may, subject to the  provisions  of  section  one
thousand  two  hundred  six of this article, amend its charter as to the
kind or kinds of insurance business it shall be empowered to do  and  to
specify  or change the location of its office, and may amend its charter
as to any other provisions which do not impair the  members'  rights  or
enlarge  their  obligations under insurance policies, by a majority vote
of its board of directors at a meeting held not less  than  thirty  days
after  notice  of the proposed amendment has been given to the directors
and the superintendent.
(c) Any domestic mutual life insurance corporation doing  business  as
such  may  file a certificate of change of name, or restate or amend its
charter, by a majority vote of its board of directors at a meeting  held
not  less  than  thirty  days after notice of the proposed amendment has
been given to the directors.
(d) A certificate of amendment or a restated charter filed pursuant to
subsections (b) and (c) hereof shall be  accompanied  by  a  certificate
signed  by the corporation's president and secretary that such amendment
or restatement was duly adopted by a majority vote of the  corporation's
board of directors at a meeting duly called for that purpose.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1210 - By-Laws of Domestic Stock Life Insurance Companies.

§  1210. By-laws of domestic stock life insurance companies. No by-law
  or amendment or repeal of a by-law of any domestic stock life  insurance
  company  shall  be  effective  until approved by the superintendent. The
  superintendent may refuse such approval if he finds that such by-law  or
  amendment or repeal does not conform with the requirements of law, or is
  not  equitable  to  the company's policyholders, or is inconsistent with
  the objects and purposes of such company.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1214 - Acting for Foreign Corporation Which Has Not Designated Superintendent as Attorney.

§  1214.  Acting  for  foreign  corporation  which  has not designated
  superintendent as attorney. No person acting for himself or  for  others
  shall solicit or procure, or aid in soliciting or procuring, policies or
  certificates  of  insurance  from, or adjust losses or in any manner aid
  the transaction of any business for, any foreign  insurance  corporation
  which  has  not  executed  and  filed  in  the superintendent's office a
  written appointment  of  the  superintendent  as  its  true  and  lawful
  attorney  in  and  for this state, upon whom all lawful processes in any
  proceeding against it may be served.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1215 - Forfeiture of Office by Director or Trustee of a Domestic Mutual Insurer.

§  1215.  Forfeiture  of  office  by director or trustee of a domestic
  mutual insurer. The office of a trustee  or  director  of  any  domestic
  mutual  insurer  shall  immediately  become  vacant whenever he fails to
  attend at least  one  regular  meeting  of  the  board  of  trustees  or
  directors  in  any  period  of  eighteen  consecutive  months, or unless
  excused by the board, which action shall be entered on the  minutes,  it
  shall appear at the end of any calendar year that he failed to attend at
  least  one-half  of  such regular meetings held in such calendar year. A
  trustee or director whose office becomes so vacant shall not be eligible
  for election to such office until one year has elapsed from the date the
  vacancy occurred.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1216 - Notice of Indemnification of Directors and Officers of Insurance Corporations.

§  1216.  Notice  of  indemnification  of  directors  and  officers of
  insurance corporations. No payment of  indemnification,  advancement  or
  allowance  under  sections  seven  hundred  twenty-one  to seven hundred
  twenty-seven inclusive of the business corporation  law  shall  be  made
  unless  a  notice  has  been filed with the superintendent not less than
  thirty days prior to such payment, specifying the payees,  the  amounts,
  the  manner  in  which  such  payment  is  authorized and the nature and
  status, at the time of such notice,  of  the  litigation  or  threatened
  litigation.  If  any action with respect to indemnification of directors
  or officers of any domestic insurer shall be taken by amendment  of  the
  by-laws,   such   action  shall  be  in  accordance  with  the  approval
  requirements in sections one thousand two hundred nine and one  thousand
  two  hundred  ten  of  this  article.  If  any  action shall be taken by
  resolution of directors, or by agreement or otherwise, a notice shall be
  filed with the superintendent  not  less  than  thirty  days  thereafter
  specifying the action taken.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1217 - Vouchers for Disbursements.

§  1217.  Vouchers  for  disbursements.  No domestic insurance company
  shall make any disbursement  of  one  hundred  dollars  or  more  unless
  evidenced  by  a  voucher  signed  by  or  on  behalf  of  the  payee as
  compensation for  goods  or  services  rendered  for  the  company,  and
  correctly   describing  the  consideration  for  the  payment.  If  such
  disbursement be for services and disbursements, such vouchers shall  set
  forth  the  services rendered and itemize the disbursements; if it is in
  connection with any matter pending before any legislative or public body
  or before any  government  department  or  officer,  the  voucher  shall
  correctly  describe  also  the  nature  of  the matter and the company's
  interest therein. If such a voucher is  unobtainable,  the  disbursement
  shall  be evidenced by a statement of an officer or responsible employee
  affirmed by him as true under the  penalties  of  perjury,  stating  the
  reasons therefor and setting forth the particulars above mentioned.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1219 - Misconduct by Directors; Insolvency.

§  1219. Misconduct by directors; insolvency. (a) Every director of an
insurance corporation who:
(1) in case of the fraudulent insolvency of  such  corporation,  shall
have participated in such fraud, or
(2) as such director, either wilfully does any act expressly forbidden
by  statute,  or  wilfully omits to perform any duty imposed upon him by
statute,
shall be guilty of a misdemeanor, unless otherwise prescribed by law.
(b) The insolvency of an insurance corporation  is  deemed  fraudulent
unless  its  affairs appear upon investigation to have been administered
fairly, legally and  with  the  same  care  and  diligence  that  agents
receiving  a  compensation  for  their  services  are  bound, by law, to
observe.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1220 - Misconduct by Officers and Directors of Co-Operative Fire Insurance Companies and of Fraternal Benefit Societies.

§  1220.  Misconduct  by  officers  and directors of co-operative fire
  insurance companies and of fraternal benefit societies.  No  officer  or
  director  of  a  co-operative  fire  insurance company or of a fraternal
  benefit society shall sell his position as such officer or director  for
  any  money  or valuable consideration, or accept or receive, directly or
  indirectly, any money or valuable consideration for his  resignation  as
  such officer or director. He shall be guilty of a felony if any money or
  valuable  consideration  accepted  or  received  for  any  such  sale or
  resignation exceeds five hundred dollars. If it is  a  less  amount,  he
  shall be guilty of a misdemeanor.
2023 New York Laws › ISC - Insurance › Article 12 - Organization and Corporate Procedure › 1221 - Transactions by Officers, Directors and Certain Shareowners in the Insurer's Shares.

§ 1221. Transactions by officers, directors and certain shareowners in
the  insurer's  shares. (a) Every person who directly or indirectly owns
beneficially more than ten percent of any class of shares of a  domestic
insurer  or is a director or officer thereof shall file in the office of
the superintendent:
(1) within ten days after he becomes such owner, director or officer a
statement, in form prescribed by the superintendent, of  the  amount  of
all such shares of which he is the beneficial owner, and
(2)  within ten days after the close of each calendar month in which a
change in such ownership  occurs  a  statement,  in  such  form  as  the
superintendent  may  prescribe, indicating his ownership at the close of
such calendar month and such changes in his ownership as  have  occurred
during such calendar month.
(b)  To  prevent  unfair  use  of  any  information  obtained  by such
beneficial owner, director or officer by reason of his  relationship  to
such  insurer, any profit realized by him from any purchase and sale, or
any sale and purchase, of the insurer's shares within any period of less
than six months, unless the  shares  were  acquired  in  good  faith  in
connection  with  a  debt  previously  contracted, shall inure to and be
recoverable by the insurer, irrespective of  any  intention  he  had  in
entering  into  such  transaction to hold the shares purchased or not to
repurchase the  shares  sold  for  a  period  exceeding  six  months.  A
proceeding  to recover such profit may be instituted at law or in equity
in any court of competent jurisdiction by the insurer or by the owner of
any shares of the insurer in the insurer's name and behalf if  it  fails
or  refuses  to bring such suit within sixty days after request or fails
diligently to prosecute it; but no such suit shall be brought more  than
two  years  after  the  date such profit was realized.   This subsection
shall not apply to any transaction where such beneficial owner  was  not
such  at  the  time  of both the purchase and sale, or both the sale and
purchase,  of  the  shares  involved,  or  any  transaction  which   the
superintendent  may  by rules and regulations exempt as not comprehended
within the purpose of this subsection.
(c) It shall be unlawful for any such beneficial  owner,  director  or
officer,  directly  or indirectly, to sell any shares of such insurer if
the person selling the shares or his principal either does not  own  the
shares sold, or, if owning them, does not deliver them against such sale
within  twenty  days thereafter, or does not within five days after such
sale  deposit  them  in  the  mails   or   other   usual   channels   of
transportation;  but  no  person  shall  be deemed to have violated this
subsection if he proves that notwithstanding the exercise of good  faith
he was unable to make such delivery or deposit within such time, or that
to do so would cause undue inconvenience or expense.
2023 New York Laws › ISC - Insurance › Article 13 - Assets and Deposits › 1302 - Assets Not Admitted.

§  1302.  Assets  not admitted. (a) In addition to assets not admitted
pursuant to section one thousand three hundred one of this article,  the
following  shall  not  be  allowed  as  admitted assets of a domestic or
foreign insurer or the United States branch of an alien insurer  in  any
determination of its financial condition:
(1) Trade names, agency plants and other like intangible assets.
(2)  Prepaid  or  deferred  charges for expenses except as provided in
paragraph sixteen of  subsection  (a)  of  section  one  thousand  three
hundred one of this article, and commissions paid by the insurer.
(3)  Advances  to  officers  (except policy loans), whether secured or
not, and advances to employees, agents and  other  persons  on  personal
security only.
(4)  Shares  of  such  insurer,  owned by it, or any equity therein or
loans secured thereby, or any  proportionate  interest  in  such  shares
through  the  ownership  by such insurer of an interest in another firm,
corporation or business unit.
(5) Tangible personal property, fixtures  and  printed  matter  except
such  as  an  insurer is permitted to hold pursuant to paragraph five of
subsection (a) of  section  one  thousand  four  hundred  four  of  this
chapter.
(6)  Items  of  bank  credits  representing  checks,  drafts  or notes
returned unpaid after the date of statement.
(7) The  amount,  if  any,  by  which  the  aggregate  book  value  of
investments  as carried in the ledger assets of such insurer exceeds the
aggregate value thereof as determined in accordance with the  provisions
of this chapter.
(b)  All non-admitted assets and all other assets of doubtful value or
character included as ledger or non-ledger assets in any statement by an
insurer to the superintendent, or in any examiner's report to him, shall
also be reported, to the extent of the value disallowed,  as  deductions
from  the  gross  assets of such insurer except where the superintendent
permits a reserve to be carried among the liabilities of such insurer in
lieu of any such deduction.
2023 New York Laws › ISC - Insurance › Article 13 - Assets and Deposits › 1303 - Loss or Claim Reserves.

§  1303.  Loss  or  claim  reserves.  Every  insurer  shall, except as
  provided in section one thousand three hundred four of this article  and
  subject  to specific provisions of this chapter, maintain reserves in an
  amount estimated in the aggregate to provide  for  the  payment  of  all
  losses  or claims incurred on or prior to the date of statement, whether
  reported or unreported, which are unpaid as of such date and  for  which
  such  insurer may be liable, and also reserves in an amount estimated to
  provide for the expenses of adjustment or settlement of such  losses  or
  claims.
2023 New York Laws › ISC - Insurance › Article 13 - Assets and Deposits › 1304 - Valuation Reserves.

§  1304.  Valuation  reserves.  Every  insurer  authorized  under this
chapter to transact the kinds of insurance specified in  paragraph  one,
two  or  three  of  subsection  (a)  of section one thousand one hundred
thirteen of this chapter shall, subject to specific provisions  of  this
chapter, maintain:
(a) reserves on all of its life insurance policies or certificates and
annuity  contracts in force, computed according to the applicable tables
of mortality and rates of interest prescribed in this chapter;
(b) reserves for disability benefits, including reserves for  disabled
lives whether reported or unreported, and for accidental death benefits;
and
(c)  any  additional  reserves  prescribed  by  the  superintendent as
necessary on  account  of  such  insurer's  policies,  certificates  and
contracts.