New York § 1318 Deposits, securities eligible

New York Statutes

§ 1318 — Deposits, securities eligible

New York § 1318

Law ISCInsurance

Art. 13Assets and Deposits

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Bluebook

N.Y. Insurance § 1318 (2026).

Text

§ 1318. Deposits, securities eligible.

(a)Except as otherwise\nprovided in this chapter, every deposit made with the superintendent\nshall be in the securities specified in paragraphs one and two of\nsubsection (b) of section one thousand four hundred two of this chapter,\nestimated at an amount not exceeding their current market value, but\ntheir total par value shall not be less than the amount required.\n (b) Such deposit made by a foreign insurer may be in like securities\nof its home state if similar domestic insurers doing business in such\nstate are permitted to deposit therein like securities of this state.\n (c) If the aggregate market value of the securities on deposit shall\nfall below the required amount, the superintendent may require the\ndepositing insurer to deposit su

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§ 1318. Deposits, securities eligible. (a) Except as otherwise\nprovided in this chapter, every deposit made with the superintendent\nshall be in the securities specified in paragraphs one and two of\nsubsection (b) of section one thousand four hundred two of this chapter,\nestimated at an amount not exceeding their current market value, but\ntheir total par value shall not be less than the amount required.\n (b) Such deposit made by a foreign insurer may be in like securities\nof its home state if similar domestic insurers doing business in such\nstate are permitted to deposit therein like securities of this state.\n (c) If the aggregate market value of the securities on deposit shall\nfall below the required amount, the superintendent may require the\ndepositing insurer to deposit sufficient additional securities of like\ncharacter.\n