§ 4608 — Application

§ 4608. Application. (a) Every system organized or created under this\nchapter shall be subject to the provisions of this article, to\nsubsection (g) of section one thousand one hundred two of this chapter,\nto the appropriate provisions of articles one, three and seventy-four of\nthis chapter, and to articles thirteen and fourteen of this chapter,\ninsofar as applicable to the assets and investments of a domestic life\ninsurance company, except that the provisions of section one thousand\nfour hundred four (and the provisions therein that relate specially to\nretirement systems) shall be applicable instead of the provisions of\nsection one thousand four hundred five of this chapter.\n (b) Article seventeen of this chapter is applicable to any such system\nfor the purpose of investing in the stock of a domestic life insurance\ncompany organized on a restricted plan pursuant to the provisions of\nsubsection (b) of section four thousand two hundred two of this chapter\nand for investing in or otherwise acquiring subsidiaries of the types\ndescribed in section one thousand seven hundred four of this chapter.\n (c) Section four thousand two hundred forty of this chapter shall be\napplicable to any such system in which the total present value of\nbenefits provided by the employer for members in active service exceeds\nfifty million dollars, subject to such modifications in the application\nof the provisions of such section as the superintendent may prescribe by\nrules and regulations not inconsistent with the provisions of this\nchapter, as may be appropriate to carry out the purposes of this\narticle.\n