2013 New York Consolidated Laws
ISC - Insurance
Article 3 - (301 - 341) ADMINISTRATIVE AND PROCEDURAL PROVISIONS
302 - Supervisory colleges.

 
    § 302. Supervisory colleges. (a) The superintendent may participate in
  a supervisory college in order to determine compliance with this chapter
  with  respect  to  an  insurer that is registered under article fifteen,
  sixteen, or seventeen of this chapter and has international  operations.
  The  powers  of  the superintendent with respect to supervisory colleges
  include:
    (1) initiating the establishment of a supervisory college;
    (2) clarifying the membership and participation of  other  supervisors
  in the supervisory college;
    (3)  clarifying  the functions of the supervisory college and the role
  of  other  regulators,  including  the  establishment  of  a  group-wide
  supervisor;
    (4)  coordinating  the  ongoing activities of the supervisory college,
  including planning meetings, supervisory activities, and  processes  for
  information sharing; and
    (5) establishing a crisis management plan.
    (b)  Each  insurer  registered  under  article  fifteen,  sixteen,  or
  seventeen of this chapter that is subject to a supervisory college shall
  be  liable  for  and  shall  pay  the   reasonable   expenses   of   the
  superintendent's  participation  in  a  supervisory  college,  including
  reasonable travel expenses. A supervisory college  may  be  convened  as
  either  a  temporary  or  permanent  forum  for  the  communication  and
  cooperation between the regulators charged with the supervision  of  the
  insurer  or  its parent, affiliates, or subsidiaries. The superintendent
  may establish a regular assessment to the insurer  for  the  payment  of
  these expenses.
    (c)  In  order  to  assess  the business strategy, financial position,
  legal and  regulatory  position,  risk  exposure,  risk  management  and
  governance  processes,  and  as  part  of  the examination of individual
  insurers, the superintendent may participate in  a  supervisory  college
  with  other  regulators  charged  with supervision of the insurer or its
  parent, affiliates, or subsidiaries, including other state, federal, and
  international regulatory agencies. The  superintendent  may  enter  into
  agreements pursuant to section one hundred ten of this chapter providing
  the   basis   for  cooperation  between  the  superintendent  and  other
  regulatory agencies and for the activities of the  supervisory  college.
  Nothing  in  this  section shall delegate to the supervisory college the
  superintendent's authority to regulate or supervise the insurer  or  its
  parent,   affiliates,   or   subsidiaries  within  the  superintendent's
  jurisdiction.