New York Statutes
§ 1309 — Insolvency of an insurer
New York § 1309
This text of New York § 1309 (Insolvency of an insurer) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.Y. Insurance § 1309 (2026).
Text
§ 1309. Insolvency of an insurer.
(a)Whenever the superintendent\nfinds from a financial statement or report on examination that an\nauthorized insurer is unable to pay its outstanding lawful obligations\nas they mature in the regular course of business, as shown by an excess\nof required reserves and other liabilities over admitted assets, or by\nits not having sufficient assets to reinsure all outstanding risks with\nother solvent authorized assuming insurers after paying all accrued\nclaims owed, such insurer shall be deemed insolvent and the\nsuperintendent may proceed against it pursuant to the provisions of\narticle seventy-four of this chapter.\n (b) If an insurer deemed insolvent pursuant to subsection (a) hereof\nis a foreign or alien insurer, the superintendent may also revok
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Related
ABN AMRO Bank, N.V. v. MBIA Inc.
952 N.E.2d 463 (New York Court of Appeals, 2011)
Alliance of American Insurers v. Cuomo
854 F.2d 591 (Second Circuit, 1988)
Dinallo v. DiNapoli
877 N.E.2d 643 (New York Court of Appeals, 2007)
Medical Malpractice Insurance v. Superintendent of Insurance of New York
137 Misc. 2d 785 (New York Supreme Court, 1987)
Serio v. Hevesi
9 Misc. 3d 835 (New York Supreme Court, 2005)
Serio v. Hevesi
40 A.D.3d 72 (Appellate Division of the Supreme Court of New York, 2007)
ABN AMRO Bank N.V. v. Dinallo
40 Misc. 3d 180 (New York Supreme Court, 2013)
Nearby Sections
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Bluebook (online)
New York § 1309, Counsel Stack Legal Research, https://law.counselstack.com/statute/ny/ISC/1309.