2010 New York Code
ISC - Insurance
Article 78 - (7801 - 7820) LIFE SETTLEMENTS
7819 - Applicability and choice of law.

§  7819.  Applicability  and choice of law. (a) The provisions of this
  article shall apply to any life settlement contract made, proposed to be
  made, or solicited with a resident of this state or any owner physically
  in this state.
    (b)(1) If there is more than one owner on a  single  policy,  and  the
  owners  are  residents  of different states, then the state of residency
  shall be the state in which the owner having the largest  percentage  of
  ownership  resides  or, if the owners hold equal ownership, the state of
  residence of one owner, agreed upon in writing by all of the owners.
    (2) A life settlement contract entered into with an  owner  who  is  a
  resident of another state may be governed by the laws of the other state
  provided  that the owner elects in writing to be governed by the laws of
  the other state, and if the owner is also a resident of this state,  the
  life  settlement  contract  is  made,  proposed to be made and solicited
  outside this state.
    (c) For the purposes of this section, with respect to any person other
  than a natural person, the state of residence shall be:
    (1) the state in which the person maintains  its  principal  place  of
  business; or
    (2) with respect to a trust, a state in which the grantor resides.