2012 New York Consolidated Laws
ISC - Insurance
Article 17 - (1701 - 1716) SUBSIDIARIES OF DOMESTIC LIFE INSURANCE COMPANIES AND CERTAIN OTHER ENTITIES
1710 - Superintendent's power to order disposition of subsidiaries.

 
    §  1710.  Superintendent's power to order disposition of subsidiaries.
  In addition to the powers granted to  the  superintendent  elsewhere  in
  this  chapter  (including, without limitation, sections one hundred nine
  and three hundred twenty-seven of this chapter), the superintendent may,
  at any time, order a parent corporation to dispose of any subsidiary, if
  the superintendent finds, after notice and an opportunity to  be  heard,
  either  (i)  that  its  acquisition or continued retention is or was not
  permitted by the provisions of this article or (ii) except in  the  case
  of a subsidiary then exempted by the provisions of subsection (a) or (b)
  of  section  one  thousand  seven hundred four of this article, that its
  continued retention is materially adverse to the interests of the parent
  corporation's policyholders or subscribers.