§ 6608 — Extension of territory

New York § 6608

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 66: Co-operative Property/casualty Insurance Companies

Text

§ 6608. Extension of territory. (a) The superintendent, upon\napplication by any advance premium corporation may issue a license\npursuant to section one thousand one hundred two of this chapter to such\ncorporation to do the business in counties additional to those in which\nit is then authorized or in the entire state if such corporation is in\npossession of a surplus to policyholders of one hundred thousand dollars\nor more, and is maintaining full unearned premium reserves in accordance\nwith section one thousand three hundred five of this chapter.\n (b) The superintendent, upon application by any assessment\ncorporation, may issue a license pursuant to section one thousand one\nhundred two of this chapter to such corporation to do business in\nadjoining counties additional to those in which it is then authorized or\nin the entire state with the exception of the counties of New York,\nKings, Queens, Bronx and Richmond, if such corporation is in possession\nof a surplus to policyholders of one hundred thousand dollars or more,\nand is maintaining full unearned premium reserves in accordance with\nsection one thousand three hundred five of this chapter.\n (c) Every license issued by the superintendent pursuant to this\nsection shall include the county in which the corporation to which it is\nissued maintains its principal office.\n (d) Applications made to the superintendent pursuant to this section\nshall be in such form as he may by regulation require.\n