New York § 1509 Prohibition of indirect action

New York Statutes

§ 1509 — Prohibition of indirect action

New York § 1509

Law ISCInsurance

Art. 15Holding Companies

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Bluebook

N.Y. Insurance § 1509 (2026).

Text

  § 1509. Prohibition of indirect action. No holding company or\ncontrolled person shall directly or indirectly or through another person\ndo or cause to be done for or in behalf of the controlled insurer any\nact intended to affect the insurance operations of the insurer which, if\ndone by the insurer, would violate section four thousand two hundred\ntwenty-eight, four thousand two hundred twenty-nine, four thousand two\nhundred thirty or any sections specified in section two thousand four\nhundred two of this chapter.\n

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§ 1509. Prohibition of indirect action. No holding company or\ncontrolled person shall directly or indirectly or through another person\ndo or cause to be done for or in behalf of the controlled insurer any\nact intended to affect the insurance operations of the insurer which, if\ndone by the insurer, would violate section four thousand two hundred\ntwenty-eight, four thousand two hundred twenty-nine, four thousand two\nhundred thirty or any sections specified in section two thousand four\nhundred two of this chapter.\n