New York Insurance Law Article 17 - SUBSIDIARIES OF DOMESTIC LIFE INSURANCE COMPANIES AND CERTAIN OTHER ENTITIES

• 1701 - Authority to Invest in Subsidiaries; Businesses of Subsidiaries.
  Subject to the provisions of section one thousand two hundred eighteen of this chapter: (a) A domestic life insurance company may, subject to the provisions...
• 1702 - Meaning of "Subsidiary", "Parent Corporation" and "Enterprise Risk"; Certain Types of Subsidiaries Defined.
  As used in this article: (a) "Subsidiary" means subsidiaries of the types described in subsection (b) of section one thousand seven hundred four of this...
• 1703 - Standard of Care for Investments in Subsidiaries.
  In addition to other requirements of law (statutory or otherwise) that affect the standard of care of directors and officers of corporations, directors and officers...
• 1704 - Exemptions Applicable to Subsidiaries; Limitations Generally.
  (a) Investments in separate account subsidiaries and in investment subsidiaries are exempt from the provisions of subsection (a) of section one thousand seven hundred five...
• 1705 - Quantitative Limitations.
  * (a)(1) Unless the superintendent shall have given prior written approval, a parent corporation shall not make an investment for its own account in any...
• 1706 - Exemptions Applicable to Parent Corporation.
  Except as provided in subsection (d) of section one thousand four hundred five of this chapter and except for investments deemed to be made or...
• 1707 - Regulations to Restrict Pyramiding.
  The superintendent may adopt regulations designed to prevent an insurer from pyramiding subsidiaries to a degree that, in the judgment of the superintendent, would be...
• 1708 - Information Reports.
  Every parent corporation that has acquired one or more subsidiaries shall (except to the extent exempted by section one thousand seven hundred four of this...
• 1709 - Confidentiality of Information Reports.
  The contents of each information report filed hereunder and information pertaining thereto shall be kept confidential, shall not be subject to subpoena and shall not...
• 1710 - Divestiture of Control; Superintendent's Power to Order Disposition of Subsidiaries.
  (a) Any parent corporation seeking to divest its controlling interest in a domestic insurer, in any manner, shall file with the superintendent, with a copy...
• 1711 - Subsidiary's Name Not to Mislead.
  The name of any subsidiary shall not be such as to mislead or deceive the public.
• 1712 - Relationships and Transactions Between Parent Corporation and Subsidiary.
  (a) The business operations, corporate proceedings and fiscal and accounting records of subsidiaries shall be conducted or maintained so as to assure the separate legal...
• 1713 - Prohibitions on Investments of Subsidiaries.
  No subsidiary shall make any investment (i) in obligations, shares or other securities issued by a corporation, other than an insurance corporation, if a majority...
• 1714 - Authority to Conduct Certain Business Directly Instead of Through Subsidiary.
  (a) A domestic life insurance company may, if it maintains books and records that separately account for such business, engage directly in (i) any business,...
• 1715 - Valuation of Shares of Subsidiaries.
  In determining the financial condition of a parent corporation, all stock of its subsidiaries (except subsidiaries acquired or held under section four thousand two hundred...
• 1716 - 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...
• 1717 - Registration.
  (a) A parent corporation shall register with the superintendent within thirty days of becoming subject to registration and shall amend the registration within thirty days...

Last modified: February 3, 2019