New York Insurance Law Article 69 - FINANCIAL GUARANTY INSURANCE CORPORATIONS

• 6901 - Definitions.
  As used in this article: (a) (1) "Financial guaranty insurance" means a surety bond, an insurance policy or, when issued by an insurer or any...
• 6902 - Organization; Financial Requirements.
  (a) A financial guaranty insurance corporation may be organized and licensed in the manner prescribed in section one thousand two hundred one of this chapter...
• 6903 - Contingency, Loss and Unearned Premium Reserves.
  (a) Contingency reserves. (1) A corporation shall establish and maintain contingency reserves for the protection of insureds and claimants against the effects of excessive losses...
• 6904 - Limitations.
  (a) Financial guaranty insurance may be transacted in this state only by a corporation licensed for such purpose pursuant to section six thousand nine hundred...
• 6905 - Policy Forms and Rates.
  (a) Policy forms and any amendments thereto shall be filed with the superintendent within thirty days of their use by the insurer if not otherwise...
• 6906 - Reinsurance.
  (a) For financial guaranty insurance that takes effect on or after the effective date of this article, an insurer authorized to transact financial guaranty insurance...
• 6907 - Transition Provisions.
  A licensed insurer writing financial guaranty insurance prior to the effective date of this article, but which is not authorized to write financial guaranty insurance...
• 6908 - Applicability of Other Laws.
  An insurer issuing policies of financial guaranty insurance shall be subject to all of the provisions of this chapter applicable to property/casualty insurers to the...
• 6909 - Relationship to Security Fund.
  No insurer or agent of an insurer may deliver a policy of financial guaranty insurance unless such policy and any prospectus delivered on or after...

Last modified: February 3, 2019