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2013 New York Consolidated Laws
ISC - Insurance
Article 75 - (7501 - 7507) LIFE INSURANCE GUARANTY FUND
7501 - Purpose of article.


NY Ins L § 7501 (2012) What's This?
 
    § 7501. Purpose of article. The purpose of this article is to continue
  the  life  insurance guaranty fund, a fund arising from assessments upon
  domestic life insurance companies to be used for the  promotion  of  the
  stability  of  such  companies  and the performance of their contractual
  obligations. In the judgment of the legislature, the  foregoing  objects
  and  purposes are not capable of accomplishment by a corporation created
  under general laws, so the continuation of the  non-profit  corporation,
  "The Life Insurance Guaranty Corporation", is provided by this article.

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