2019 New York Laws
ISC - Insurance
Article 3 - Administrative and Procedural Provisions
325 - Records of Domestic Insurers.

§  325.  Records  of domestic insurers. (a) Every domestic insurer and
every licensed United States branch of an alien insurer entered  through
this  state  shall, except as hereinafter provided, keep and maintain at
its principal office in this state its charter and by-laws (in the  case
of  a United States branch a copy thereof) and its books of account, and
if a domestic stock  corporation  a  record  containing  the  names  and
addresses  of  its  shareholders, the number and class of shares held by
each and the dates when they respectively became the  owners  of  record
thereof,  and  if  a domestic corporation the minutes of any meetings of
its shareholders,  policyholders,  board  of  directors  and  committees
thereof.  If any such records are kept in a language other than English,
they shall be accompanied by accurate translations thereof.
  (b) A domestic insurer and a licensed United States branch of an alien
insurer entered through this state may keep and maintain  its  books  of
account  without this state if, in accordance with a plan adopted by its
board of directors and approved by the superintendent, it  maintains  in
this state suitable records in lieu thereof; provided, however, that the
superintendent  may  after  notice  and  hearing  direct such insurer to
return all or any of its books of account to this state if  such  return
is  reasonably  necessary to protect the interests of the people of this
state or to permit their inspection in  this  state  by  a  director,  a
shareholder,  or,  in  the case of a mutual insurer, a policyholder, who
has shown to the satisfaction of the superintendent that he has made  an
application  to  such insurer for inspection of such books in good faith
and for a necessary and legitimate purpose, and that  such  insurer  has
either declined to permit such inspection without this state or to agree
to  pay  any  additional  expenses  reasonably  to  be  incurred  by the
applicant or his agent or attorney in connection with the inspection  of
such  books  as  a result of their maintenance without this state. If in
the judgment of the superintendent delay in the return  of  any  or  all
books  of  account  of  such  insurer  may  be  hazardous,  or may cause
irreparable injury, to the people of this state or to the  policyholders
of  such  insurer  he  may  direct the return thereof without notice and
hearing.
  (c) Notwithstanding the provisions of subsections (a) and (b) of  this
section,  any  licensed United States branch of an alien insurer entered
through this state which  keeps  and  maintains  its  books  of  account
without  this  state  on  April first, nineteen hundred eighty-seven may
continue to do so, unless the superintendent  determines,  after  notice
and  hearing,  that the return of such books to this state is reasonably
necessary to protect the interests of the people of this state.