2013 New York Consolidated Laws
ISC - Insurance
Article 13 - (1301 - 1325) ASSETS AND DEPOSITS
1318 - Deposits, securities eligible.

 
    §  1318.  Deposits,  securities  eligible.  (a)  Except  as  otherwise
  provided in this chapter, every deposit  made  with  the  superintendent
  shall  be  in  the  securities  specified  in  paragraphs one and two of
  subsection (b) of section one thousand four hundred two of this chapter,
  estimated at an amount not exceeding their  current  market  value,  but
  their total par value shall not be less than the amount required.
    (b)  Such  deposit made by a foreign insurer may be in like securities
  of its home state if similar domestic insurers doing  business  in  such
  state are permitted to deposit therein like securities of this state.
    (c)  If  the aggregate market value of the securities on deposit shall
  fall below the required  amount,  the  superintendent  may  require  the
  depositing  insurer  to deposit sufficient additional securities of like
  character.