New York Insurance Law Article 67 - NONPROFIT PROPERTY/CASUALTY INSURANCE COMPANIES

• 6701 - Purpose; Construction.
  (a) The purpose of this article is to provide for the organization and licensing of a nonprofit property/casualty insurance company that insures nonprofit organizations and...
• 6702 - Definitions.
  As used in this article, the following terms shall have the following meanings: (a) "Member" shall, in the case of a nonprofit property/casualty insurance company...
• 6703 - Organization of Nonprofit Property/casualty Insurance Companies.
  (a) A corporation may be organized as a charitable corporation pursuant to paragraph (a) of section two hundred one of the not-for-profit corporation law or...
• 6704 - Licensing of Nonprofit Property/casualty Insurance Companies.
  (a) No person, firm, corporation or association as an underwriter or underwriters, and no nonprofit property/casualty insurance company, shall do any insurance business in this...
• 6705 - Relevant Criteria.
  (a) In applying this article, the superintendent shall consider the provisions of paragraph (3) of subsection (c) of section 501 of the Internal Revenue Code...
• 6706 - Applicability of Other Provisions of This Chapter.
  (a) Except as otherwise provided in this article, where inconsistent with this article, or where the context otherwise requires, all of the provisions of this...
• 6707 - Tax Exemption; Residual Market Participation Exemption; Security Funds.
  (a) Every nonprofit property/casualty insurance company subject to the provisions of this article shall be exempt from any fees, taxes, special ad valorem levies or...
• 6708 - Rules and Regulations.
  The superintendent shall promulgate such rules and regulations as may be necessary for the implementation of this article. Such regulation may be necessary in light...

Last modified: February 3, 2019