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2013 New York Consolidated Laws
ISC - Insurance
Article 16 - (1601 - 1612) SUBSIDIARIES OF DOMESTIC PROPERTY/CASUALTY INSURANCE COMPANIES AND CERTAIN OTHER ENTITIES
1609 - Prohibitions on investments of subsidiaries.


NY Ins L § 1609 (2012) What's This?
 
    §  1609.  Prohibitions  on  investments of subsidiaries. No subsidiary
  acquired by a domestic insurance company pursuant to this article  shall
  make any investment prohibited by subsection (a) of section one thousand
  four  hundred  seven of this chapter except that an alien subsidiary may
  make investments in excess of the  limitations  described  in  paragraph
  seven of such subsection if found by the superintendent to be reasonably
  necessary to protect the interests of the parent corporation or those of
  its  alien subsidiary and not prejudicial to the interests of the people
  of this state.

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