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2012 New York Consolidated Laws
ISC - Insurance
Article 15 - (1501 - 1510) HOLDING COMPANIES
1502 - Exemptions.


NY Ins L § 1502 (2012) What's This?
 
    §  1502.  Exemptions.  (a) Notwithstanding any other provision of this
  article the following shall not be deemed holding companies:
    (1) authorized insurers, including alien insurers transacting business
  in this state through United States branches, or their subsidiaries; or
    (2) the United States, a state or any political subdivision, agency or
  instrumentality thereof, or any corporation  wholly  owned  directly  or
  indirectly by one or more of the foregoing.
    (b) The superintendent may conditionally or unconditionally exempt any
  specified  person  or  class of persons from any obligation or liability
  under this article,  if  and  to  the  extent  he  finds  the  exemption
  necessary  or  appropriate  in the public interest or not adverse to the
  interests of policyholders  or  shareholders  and  consistent  with  the
  purposes of this article.

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