2012 New York Consolidated Laws
ISC - Insurance
Article 67 - (6701 - 6708) NONPROFIT PROPERTY/CASUALTY INSURANCE COMPANIES
6702 - Definitions.

 
    §  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  organized  as  a  type  B  corporation  pursuant  to
  paragraph  (b)  of  section  two  hundred  one  of  the   not-for-profit
  corporation  law, have the meaning set forth in paragraph (a) of section
  one hundred two of the not-for-profit corporation law or, in the case of
  a nonprofit property/casualty insurance company organized  as  nonprofit
  reciprocal  insurer  under  article  sixty-one of this chapter, have the
  meaning set forth in subsection (g) of section six thousand one  hundred
  one of this chapter.
    (b)  "Nonmember  charitable  organization"  shall have the meaning set
  forth in subsection (n) of section 501 of the Internal Revenue Code.
    (c)  "Nonprofit  organizations"  means  organizations   described   in
  paragraph  (3)  of  subsection  (c),  and  exempt  from  taxation  under
  subsection (a), of section 501 of the Internal Revenue Code,  including,
  if  qualified  thereunder,  type B or D organizations formed pursuant to
  paragraph  (b)  of  section  two  hundred  one  of  the   not-for-profit
  corporation  law,  and  organizations  described  in section two hundred
  sixteen-a of the education law.
    (d) "Startup capital" shall have the meaning set forth  in  subsection
  (n) of section 501 of the Internal Revenue Code.