New York Insurance Law Article 16 - SUBSIDIARIES OF DOMESTIC PROPERTY/CASUALTY INSURANCE COMPANIES AND CERTAIN OTHER ENTITIES

• 1601 - Authority to Invest in Subsidiaries; Businesses of Subsidiaries.
  (a) (1) A domestic insurer authorized to make investments by subsection (c) of section one thousand four hundred three of this chapter may, subject to...
• 1602 - Minimum Ownership of Subsidiaries' Shares.
  A domestic insurer shall own not less than fifty-one percent of the issued and outstanding voting shares of each of its subsidiaries.
• 1603 - Notice of Intent to Acquire or Divest.
  (a) A domestic insurer shall not acquire control of any other domestic insurer, whether by purchase of its securities or otherwise, unless: (1) a notice...
• 1604 - Registration.
  (a) An authorized domestic insurer shall register with the superintendent within thirty days of becoming subject to registration and shall amend the registration within thirty...
• 1605 - When Corporation is Deemed a Subsidiary.
  (a) For the purposes of this article: (1) any corporation a majority of whose outstanding voting shares is owned or controlled by another corporation shall...
• 1606 - Valuation of Shares of Subsidiary.
  In determining the financial condition of a domestic insurance company, all shares of its subsidiaries held pursuant to this article shall be valued in accordance...
• 1607 - Subsidiary's Name Not to Mislead.
  The name of any corporation which is a subsidiary of a domestic insurance company shall not be such as to mislead or deceive the public.
• 1608 - Relationships and Transactions Between Parent and Subsidiary.
  (a) The business operations, corporate proceedings and fiscal and accounting records of subsidiaries organized or acquired pursuant to this article shall be conducted or maintained...
• 1609 - Prohibitions on Investments of Subsidiaries.
  No subsidiary acquired by a domestic insurance company pursuant to this article shall make any investment prohibited by subsection (a) of section one thousand four...
• 1610 - Authority to Conduct Certain Business Directly Instead of Through Subsidiary.
  (a) A domestic insurance company subject to this article may, provided that it maintains books and records which separately account for such business, engage directly...
• 1611 - Aggregate Limitations.
  (a) The aggregate investment by the insurer and its subsidiaries in assets which are owned, managed or acquired pursuant to this article shall not exceed...
• 1612 - Regulations.
  In addition to the powers expressly given by this article, the superintendent shall have the power to promulgate, from time to time, such regulations, not...

Last modified: February 3, 2019