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2014 New York Laws
ISC - Insurance
Article 14 - (1401 - 1415) INVESTMENTS
1412 - Disposal or deduction of investments unlawfully acquired.

NY Ins L § 1412 (2014) What's This?
  1412. Disposal or deduction of investments unlawfully acquired. (a)
  Every  domestic  insurer  shall  forthwith  dispose  of  any  investment
  acquired in violation of the law in force at the date of acquisition.

(b)  In  determining  the financial condition of any such insurer, the
  value of any  wholly  ineligible  investments,  and  the  value  of  any
  investment in excess of any limitation prescribed in this chapter, shall
  be deducted as a non-admitted asset of such insurer.

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