New York Insurance Law Article 42 - LIFE INSURANCE COMPANIES AND ACCIDENT AND HEALTH INSURANCE COMPANIES AND LEGAL SERVICES INSURANCE COMPANIES
- 4202 - Capital and Surplus Requirements of Life Insurance Companies.
(a) (1) A stock company may be organized as prescribed in section one thousand two hundred one and subsection (e) of section one thousand one...
- 4203 - Transfer of Shares of Domestic Life Insurance Company.
(a) No shareholder of a domestic life insurance company shall vote his shares until the earlier of (i) ten days after written notice of acquisition...
- 4204 - Financial Requirements for the Organization of Stock Accident and Health Insurance Companies and Stock Legal Services Insurance Companies.
(a) (1) A stock company may be organized in the manner prescribed in section one thousand two hundred one and subsection (e) of section one...
- 4205 - Life, Accident and Health, and Legal Services Insurance Companies; Engaging in Other Business.
No life insurance company licensed to do a life insurance business in this state shall do any business other than the kinds of business specified...
- 4206 - Deposits by Life, Accident and Health, and Legal Services Insurance Companies.
Before being licensed to do business, every domestic life insurance company, every domestic accident and health insurance company and every domestic legal services insurance company...
- 4207 - Dividends to Shareholders of Life, and Accident and Health Insurance Companies.
(a)(1) For purposes of this subsection, "earned surplus" means an amount equal to an insurer's positive unassigned funds, excluding eighty-five percent of the change in...
- 4208 - Financial and Additional Requirements for the Organization of Mutual Life, Accident and Health, and Legal Services Insurance Companies.
(a) (1) A mutual insurance company may be incorporated and licensed exclusively to do one or more of the kinds of insurance business specified in...
- 4209 - Mutual Life Insurance Companies, Mutual Accident and Health Insurance Companies; Assessments.
(a) (1) No domestic mutual life insurance company shall issue any policy of life or accident and health insurance or any annuity contract providing for...
- 4210 - Election of Directors of Domestic Mutual Life Insurance Companies.
(a) (1) The directors of every domestic mutual life insurance company shall be elected in the manner and subject to the regulations prescribed in this...
- 4211 - Election of Directors of Domestic Stock Life Insurance Companies.
(a) No election of directors of a domestic stock life insurance company shall be valid unless a copy of the notice of election shall have...
- 4212 - Stock Life Insurance Companies; Voting Power of Policyholders.
(a) (1) Any domestic stock life insurance company may, by amendment to its charter, confer upon its policyholders, or upon such of its policyholders as...
- 4213 - Industrial Life Insurance.
(a) In this chapter "industrial life insurance" means that form of life insurance, either: (1) under which the premiums are payable weekly, or (2) under...
- 4214 - Industrial Accident and Industrial Health Insurance.
(a) In this chapter: (1) "Industrial accident insurance" means that form of accident insurance wherein the premium is payable in the manner prescribed in subsection...
- 4215 - Contracts With Industrial Life Insurance Agents; Prohibitions.
(a) No life insurance company licensed to do business in this state shall make any contract with any agent, superintendent or other representative employed in...
- 4216 - Group Life Insurance; Premium Requirements; Notice of Conversion; Filing of Compensation.
(a) (1) In this chapter: (A) "Group life insurance" means that form of life insurance covering any one of the groups specified in subsection (b)...
- 4217 - Valuation of Insurance Policies and Contracts.
(a) (1) The superintendent shall annually value, or cause to be valued, the reserve liabilities (hereinafter called reserves) for all outstanding insurance policies and contracts...
- 4218 - When Actual Premium is Less Than Net Premium; Minimum Reserve.
(a) (1) When the actual premium or consideration charged for life insurance under any life insurance policy, issued by any life insurance company doing business...
- 4219 - Limitation on Accumulation of Surplus of Life Insurance Companies.
(a) (1) Any domestic mutual life insurance company may maintain a surplus, above all of its reserves and liabilities required or specifically permitted by this...
- 4220 - Life Insurance and Annuities; Nonforfeiture Benefits Under Defaulted Contracts.
(a) (1) This section shall apply only to those policies and contracts issued prior to the operative date specified in section four thousand two hundred...
- 4221 - Standard Nonforfeiture Law.
(a) In the case of policies issued on or after the operative date of this section as defined in subsection (p) hereof, no policy of...
- 4222 - Policy Loans.
The policy loan value referred to in paragraph eight of subsection (a) of section three thousand two hundred three of this chapter shall be the...
- 4223 - Standard Nonforfeiture Law for Annuities.
(a) (1) In the case of contracts issued on or after the operative date of this section, no contract of annuity, except as provided in...
- 4224 - Life, Accident and Health Insurance; Discrimination and Rebating; Prohibited Inducements and Interdependent Sales.
(a) No life insurance company doing business in this state and no savings and insurance bank shall: (1) make or permit any unfair discrimination between...
- 4225 - Domestic Life Insurance Companies; Discrimination As to Brokers.
No officer, trustee or director of a domestic life insurance company shall direct or require a borrower from the life insurance company on mortgage to...
- 4226 - Misrepresentations, Misleading Statements and Incomplete Comparisons by Insurers.
(a) No insurer authorized to do in this state the business of life, or accident and health insurance, or to make annuity contracts shall: (1)...
- 4228 - Life Insurance and Annuity Business; Limitations of Expenses.
(a) The provisions of this section shall apply to all domestic life insurance companies and to all foreign and alien life insurance companies doing business...
- 4230 - Salaries and Pensions to Officers and Employees.
(a) No domestic life insurance company shall pay any salary, compensation or emolument in any amount to any officer, deemed by a committee or committees...
- 4231 - Policyholder's Participation in Surplus of Life Insurance Companies.
(a) (1) Except as herein otherwise provided, every domestic life insurance company shall ascertain and distribute annually, and not otherwise, the proportion of any surplus...
- 4232 - Amounts Credited on Certain Contracts or Life Insurance Policies.
(a) (1) If any contract subject to section four thousand two hundred twenty-three of this article, provides for additional amounts to be credited to the...
- 4233 - Annual Statements of Life Insurance Companies.
(a) In addition to any other matter which may be required to be stated therein, either by law or by the superintendent pursuant to law,...
- 4235 - Group Accident and Health Insurance.
(a) (1) Any policy of insurance against death or injury resulting from an accident which covers more than one person, except blanket accident insurance policies...
- 4236 - Joint Underwriting of Group Health Insurance for Persons Aged Sixty-Five and Over.
(a) It is the concern of the legislature that many residents of this state of advanced years do not have readily available to them health...
- 4237 - Blanket Accident and Health Insurance.
(a) (1) Any policy or contract of insurance against death or injury resulting from accident which insures a group of persons conforming to the requirements...
- 4237-a - Stop-Loss Insurance.
(a) An insurer authorized to do the business of accident and health insurance in this state and a health service corporation organized under article forty-three...
- 4238 - Group Annuity Contracts.
(a) Any policy or contract, except a joint, reversionary or survivorship annuity contract, whereby annuities are payable dependent upon the continuance of the lives of...
- 4239 - Allocation and Reporting of Income and Expenses of Life Insurers.
(a) In order to enable the superintendent to determine compliance with this chapter, he may issue reasonable regulations prescribing standards for the equitable allocation of...
- 4240 - Separate Accounts; Fixed and Variable Life Insurance and Annuities and Funding Agreements.
(a) In accordance with paragraphs one, two and three of subsection (a) of section one thousand one hundred thirteen and section three thousand two hundred...
- 4241 - Penalty for Violation of Filing Requirements.
(a) Any authorized insurer, representative of such insurer, licensed insurance agent or licensed insurance broker wilfully violating any of the provisions of this article or...
Last modified: February 3, 2019