2012 New York Consolidated Laws
ISC - Insurance
Article 77 - (7701 - 7718) THE LIFE INSURANCE COMPANY GUARANTY CORPORATION OF NEW YORK ACT
7703 - Scope.

 
    §  7703.  Scope. (a) This article shall apply to direct life insurance
  policies,  health  insurance  policies,   annuity   contracts,   funding
  agreements  and  contracts  supplemental  to  life  and health insurance
  policies, annuity contracts or funding agreements issued to  a  resident
  by  a  life  insurance  company  licensed  to  transact  life  or health
  insurance or annuities in this state at the time the policy, contract or
  agreement was issued or at the time it became an impaired  or  insolvent
  insurer, as the case may be.
    (b) This article shall not apply to:
    (1) That portion or part of a variable life insurance policy, variable
  annuity  contract  or  variable  funding  agreement not guaranteed by an
  insurer;
    (2) That portion or part of any policy, contract  or  agreement  under
  which the risk is borne by the holder thereof;
    (3)  Any  policy, contract or agreement or part thereof assumed by the
  impaired or insolvent insurer under a  contract  of  reinsurance,  other
  than reinsurance for which assumption certificates have been issued;
    (4)  Any  policy,  contract  or  agreement  issued  by  or through the
  facilities of the New York Insurance  Exchange,  Inc.,  or  any  similar
  entity, or pursuant to article sixty-three of this chapter;
    (5)  Any  policy,  contract or agreement issued or issued for delivery
  outside the United States, to the extent it covers persons not  citizens
  or permanent residents of the United States; and
    (6)  Any  policy,  contract  or agreement payable other than in United
  States dollars.