2006 New York Code - Existing Corporations.

 
    §  1205. Existing corporations. Any insurance corporation incorporated
  under the provisions of any law of this state and doing business  as  an
  authorized  insurer  at  the  effective  date  of  this chapter shall be
  subject  to  the  provisions  of  this  chapter  relating  to   such   a
  corporation, except that:
    (a) It shall be entitled to exercise all powers conferred by virtue of
  its  charter  as in effect on the effective date of this chapter, during
  the term thereof, unless specifically prohibited by or pursuant to law.
    (b) Subject to article seventy-four  of  this  chapter,  its  duration
  shall be perpetual.
    (c)  If it has a guarantee capital represented by shares, it may amend
  any of the provisions of its charter.