New York Insurance Law Article 75 - LIFE INSURANCE GUARANTY FUND

• 7501 - Purpose of Article.
  The purpose of this article is to continue the life insurance guaranty fund, a fund arising from assessments upon domestic life insurance companies to be...
• 7502 - Definitions.
  In this article: (a) "Board" means the board of directors of The Life Insurance Guaranty Corporation. (b) "Assessment" means a payment made by a company...
• 7503 - The Life Insurance Guaranty Corporation.
  (a) The non-profit body corporate known as "The Life Insurance Guaranty Corporation" created pursuant to chapter four hundred eighty-one of the laws of nineteen hundred...
• 7504 - The Guaranty Fund.
  (a) The corporation shall provide a guaranty fund from which all corporate administrative costs may be paid as well as such payments and advances as...
• 7505 - Taxes.
  (a) The corporation shall be exempt from all taxes and fees imposed by this state or by any county, municipality, or local authority or subdivision,...
• 7506 - Companies Excluded From Article.
  There is hereby excluded from the provisions of this article any life insurance company organized and operated, without profit to any private shareholder or individual,...
• 7507 - Authorization for Member Companies.
  Each member company and its officers, directors and agents shall have authority to do and permit to be done any act and to make any...

Last modified: February 3, 2019