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2019 New York Laws
ISC - Insurance
Article 67 - Nonprofit Property/casualty Insurance Companies
6706 - Applicability of Other Provisions of This Chapter.

Universal Citation: NY Ins L § 6706 (2019)
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§ 6706. Applicability of other provisions of this chapter.  (a) Except
as  otherwise  provided  in  this  article, where inconsistent with this
article, or where the context otherwise requires, all of the  provisions
of  this  chapter  and  the rules and regulations of the superintendent,
relating  to  all  insurers  and  those  relating  to  property/casualty
insurance  companies  transacting  the  same  kind or kinds of insurance
shall be applicable to a nonprofit property/casualty  insurance  company
organized  as  a  charitable  corporation as defined in paragraph (a) of
section one hundred two (Definitions) of the not-for-profit  corporation
law  and  formed pursuant to paragraph (a) of section two hundred one of
the not-for-profit corporation law and licensed pursuant  to  subsection
(b)  of  section  six thousand seven hundred four of this article. Where
any of such provisions  of  law  refer  to  a  corporation,  company  or
insurer, such references, when read in connection with and applicable to
this  article,  shall  mean such a nonprofit property/casualty insurance
company.
  (b) Except as otherwise provided in this article,  where  inconsistent
with  this  article, or where the context otherwise requires, all of the
provisions of  this  chapter  and  the  rules  and  regulations  of  the
superintendent,   relating   to  all  insurers  and  those  relating  to
reciprocal insurers transacting the same  kind  or  kinds  of  insurance
shall  be  applicable to a nonprofit property/casualty insurance company
organized as a reciprocal insurer pursuant to article sixty-one of  this
chapter  and licensed pursuant to subsection (c) of section six thousand
seven hundred four of this article. Where any of such provisions of  law
refer  to  a corporation, company or insurer, such references, when read
in connection with and applicable to this article,  shall  mean  such  a
nonprofit property/casualty insurance company.
  (c)  (1)  Every nonprofit property/casualty insurance company shall be
subject to liquidation, dissolution or rehabilitation  pursuant  to  the
provisions  of article seventy-four of this chapter, and such proceeding
shall be under the supervision of the  superintendent,  who  shall  have
such  powers  granted  pursuant to the provisions of such article as are
applicable to domestic insurance companies.
  (2) Articles ten, eleven and twelve of the not-for-profit  corporation
law shall not apply to nonprofit property/casualty insurance companies.
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