§ 1108 — Insurers exempt from licensing and other requirements

New York § 1108

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 11: Licensing of Insurers

Text

§ 1108. Insurers exempt from licensing and other requirements. The\nfollowing insurers, their officers, agents, representatives and\nemployees shall be exempt from licensing and other requirements imposed\nby the provisions of this chapter (except article seventy-four hereof)\nto the extent specified below:\n (a) Any charitable annuity society which complies with the\nrequirements of section one thousand one hundred ten of this article, to\nthe extent therein stated.\n (b) Any fraternal benefit society, membership corporation or other\norganization exempted under the provisions of article forty-five of this\nchapter, to the extent therein stated.\n (c) The state insurance fund of this state, except as to the\nprovisions of subsection (d) of section two thousand three hundred\nthirty-nine, section three thousand one hundred ten, subsection (a),\nparagraph one of subsection (b), paragraph three of subsection (c) and\nsubsection (d) of section three thousand two hundred one, sections three\nthousand two hundred two, three thousand two hundred four, subsections\n(a) through (d) of section three thousand two hundred twenty-one,\nsubsections (b) and (c) of section four thousand two hundred\ntwenty-four, section four thousand two hundred twenty-six and\nsubsections (a) and (b), (g) through (j), and (n) of section four\nthousand two hundred thirty-five of this chapter and except as otherwise\nspecifically provided by the laws of this state.\n (d) Any corporate trustee or board of trustees acting pursuant to the\nbanking law in relation to the fund for insurance of deposits in savings\nbanks or the fund for insurance of shares of savings and loan\nassociations.\n (e) Any corporation, organized under the laws of any state, solely to\nprovide gratuitously for support or relief of the priests, clergy or\nministers of any religious denomination, or their dependents, is exempt\nfrom all provisions of this chapter, except that any such corporation,\ncreated by special act of incorporation of this state, which by the\nprovisions of such act is subject to the requirement of examination by,\nand making annual reports to, the superintendent, shall be subject to\nthe provisions of article three of this chapter relating to examinations\nand statements or reports by insurers.\n (f) Any retirement system or pension fund that was doing business on\nJanuary first, nineteen hundred forty under the education law, the civil\nservice law, the mental hygiene law, any special act of incorporation of\nthis state, or any municipal charter adopted under the laws of this\nstate, exclusively for the benefit of the members of such system or fund\nor for all or any classes of the employees of this state or any\nmunicipality thereof, shall be exempt from the provisions of this\nchapter, except that if the law under which such system or fund was\norganized subjects it to examination by, and the making of annual\nreports to, the superintendent, such system or fund shall be subject to\nthe provisions of article three of this chapter relating to examinations\nand statements or reports by insurers.\n (g) Any membership corporation or voluntary association organized and\noperating in this state prior to January first, nineteen hundred\nthirty-nine and its members may act as indemnitors of a licensed\nproperty/casualty insurance company in respect to surety bonds or\npolicies of insurance required to be filed by such members pursuant to\nsection three hundred seventy of the vehicle and traffic law and are\nexempted from the requirement of having an insurer's license; but no\nsuch membership corporation or association shall become a surety on any\nsuch bond or otherwise do an insurance business.\n (h) Any relief department or pension plan of any common carrier\nsubject to the the Railroad Retirement Act of 1974 (45 U.S.C. § 31),\nwhose privileges and membership are confined to employees or former\nemployees of such carrier or its affiliated or subsidiary companies, or\nto any association of such common carriers which administers any such\ndepartment or plan.\n (i) Every blood credit system established by a city, pursuant to\nsection twenty-one-d of the general city law.\n (j) Any group of employers authorized by the workers' compensation\nboard to provide workers' compensation benefits for the employees of all\nmember employers pursuant to subdivision three-a of section fifty of the\nworkers' compensation law.\n * (k) A charitable bail organization holding a certificate issued by\nthe superintendent pursuant to section six thousand eight hundred five\nof this chapter.\n * NB There are 2 sb§ (k)'s\n * (k) An institution of higher education, as defined in paragraph two\nof subsection (a) of section one thousand one hundred twenty-four of\nthis article, that has a certificate of authority from the\nsuperintendent and complies with the requirements of section one\nthousand one hundred twenty-four of this article, to the extent therein\nstated.\n * NB There are 2 sb§ (k)'s\n (n) A resolution facility established pursuant to section seven\nthousand seven hundred nineteen of this chapter.\n