§ 6609 — Policy forms

New York § 6609

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

Text

§ 6609. Policy forms. (a) (1) Every form of policy issued by any\nco-operative property/casualty insurance company shall indicate in words\nprominently displayed at the top of the first page, and in type of which\nthe face shall not be smaller than twelve point, that such policy is\nissued on the co-operative plan.\n (2) Each form of policy issued by such a corporation shall also\ninclude on the page following that concluding the policy proper and\nunder appropriate caption all provisions of the corporation's by-laws,\nwhether required or permitted, relative to meetings of members, election\nof directors, rights and obligations of members, extraordinary\nassessments, and contingent liability.\n (b) No policy form shall be delivered or issued for delivery by an\nassessment corporation unless it has been filed by said assessment\ncorporation with the superintendent and he has approved it.\n (c) The standard fire insurance policy, insofar as required for use by\ndomestic mutual property/casualty insurance companies by section three\nthousand four hundred four of this chapter, shall also be required for\nuse by all co-operative property/casualty insurance companies, with such\nmodifications therein as shall be permitted by regulation of the\nsuperintendent.\n (d) Two or more advance premium corporations or two or more assessment\ncorporations may issue a combination policy, as provided for in section\nthree thousand four hundred four of this chapter, with such\nmodifications permitted by regulation of the superintendent, upon\nproperty located in territory wherein all the participating corporations\nnamed in such policy are licensed to do business.\n