New York Insurance Law Article 12 - ORGANIZATION AND CORPORATE PROCEDURE

• 1201 - Incorporation of Stock or Mutual Insurance Companies.
  (a) A corporation may be organized and licensed to do an insurance business in this state by taking the following successive steps, subject to applicable...
• 1202 - Number of Directors; Independent Directors and Committees of the Board of Directors; Duty of Directors.
  (a) (1) Subject to item (v) of subparagraph (B) of paragraph five of subsection (a) of section one thousand two hundred one of this article,...
• 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...
• 1204 - Sale of Insurance Securities.
  (a) Subject to the provisions of subsection (e) hereof, no person, firm, association or corporation shall in this state sell or propose to sell to...
• 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...
• 1206 - Amendments to Charters and Increase of Capital of Insurance Corporations.
  (a) Any domestic insurance corporation may amend its charter as follows: (1) It may change its name or authorize the use in a foreign country...
• 1207 - Options for the Purchase of Shares.
  (a) Notwithstanding any provision of the business corporation law, but subject to any provision in respect thereto set forth in its certificate of incorporation, or...
• 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...
• 1209 - Management and By-Laws of Mutual Insurance Corporations.
  (a) The management of the business and affairs of a domestic mutual insurance corporation shall be vested in a board of directors. (b) Such corporation...
• 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...
• 1211 - Mutual Insurance Corporations; Membership and Dividends.
  (a) Every domestic mutual insurance corporation shall be organized, maintained and operated for the benefit of its members as a non-stock corporation. Every policyholder shall...
• 1212 - Service of Process Upon Superintendent As Attorney.
  (a) No domestic, foreign or alien insurer, including a fraternal benefit society, shall be or continue to be authorized to do an insurance business in...
• 1213 - Service of Process on Superintendent As Attorney for Unauthorized Insurers.
  (a) The purpose of this section is to subject certain insurers to the jurisdiction of the courts of this state in suits by or on...
• 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...
• 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...
• 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...
• 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...
• 1218 - Regulation of Stock Ownership, Interlocking Directors and Common Management.
  (a) Any domestic insurer and any foreign or alien insurer authorized to do business in this state may retain, invest in or acquire all or...
• 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...
• 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...
• 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...

Last modified: February 3, 2019