There is a newer version
of
the New York Laws
2017 New York Laws
ISC - Insurance
Article 11 - Licensing of Insurers
1103 - Duration of Licenses.
Universal Citation: NY Ins L § 1103 (2017)
1103. Duration of licenses. (a) Every license issued to a domestic insurer shall be for an indefinite term and shall expire with the expiration or termination of its corporate existence.
(b) Every license, including every renewal license, issued to a foreign or alien insurer shall be for a term expiring on June thirtieth following the date of issuance, except that at any time after a licensed foreign or alien insurer has filed its annual statement pursuant to section three hundred seven of this chapter the superintendent may issue to such insurer a renewal license for the next year.
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