There is a newer version of the New York Consolidated Laws
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2012 New York Consolidated Laws
ISC - Insurance
Article 77 - (7701 - 7718) THE LIFE INSURANCE COMPANY GUARANTY CORPORATION OF NEW YORK ACT
7716 - Immunity and indemnification.


NY Ins L § 7716 (2012) What's This?
 
    §  7716.  Immunity and indemnification. No director, officer, agent or
  other representative of the corporation shall be individually liable  to
  any  person, firm or corporation, including the corporation, for any act
  or omission to act, or for any liability incurred or assumed, on  behalf
  of  the  corporation or by virtue hereof. Any such liability so incurred
  or assumed shall be indemnified by the corporation. The expense of  such
  indemnification  shall  be  assessed against member insurers in a manner
  consistent with the method of assessment prescribed in paragraph two  of
  subsection  (c)  of  section  seven  thousand seven hundred nine of this
  article; no member company shall be subject to any liability except  for
  assessment as herein provided.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.