2006 New York Code - Companies Excluded From Article.

 
    § 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,
  exclusively  to  aid  and  strengthen charitable, religious, missionary,
  educational  or  philanthropic  institutions  by  issuing  policies   or
  contracts   only  to  or  for  the  benefit  of  such  institutions,  to
  individuals engaged in serving such institutions and to members of their
  immediate families.