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2013 New York Consolidated Laws
ISC - Insurance
Article 41 - (4101 - 4121) PROPERTY/CASUALTY INSURANCE COMPANIES
4112 - Mutual companies; protection against assessments.


NY Ins L § 4112 (2012) What's This?
 
    §  4112. Mutual companies; protection against assessments. No domestic
  mutual  property/casualty  insurance   company   and   no   officer   or
  representative thereof shall make any contract whether on behalf of such
  company  or  of  all or any of its policyholders, whereby the company or
  the policyholders are insured or indemnified against the  imposition  or
  payment of assessments which may be made upon members of the company, if
  the contract is cancellable or otherwise terminable by any party thereto
  upon the giving of notice of cancellation or termination within a period
  of  less  than one year before the effective date of the cancellation or
  termination.

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