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2013 New York Consolidated Laws
ISC - Insurance
Article 71 - (7101 - 7121) MERGER, CONSOLIDATION, REDOMESTICATION, ACQUISITION OF ASSETS AND ACQUISITION OF CERTAIN SHARES OF INSURERS
7113 - Transfer of deposits to surviving or consolidated company.


NY Ins L § 7113 (2012) What's This?
 
    §  7113. Transfer of deposits to surviving or consolidated company. If
  any  constituent  company  in  a  merger  or  consolidation  under   the
  provisions of this article shall have on deposit with the superintendent
  securities   held   for  the  benefit  and  protection  of  all  of  its
  policyholders or policyholders and creditors within the  United  States,
  the  superintendent is authorized, upon the completion of such merger or
  consolidation, to transfer residuary interest in such  deposit  of  such
  constituent  company  to  the  surviving or consolidated company, and to
  release such deposit or any part thereof if no longer required  of  such
  surviving or consolidated company under the provisions of this chapter.

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