New York § 7006 Annual report

New York Statutes

§ 7006 — Annual report

New York § 7006

Law ISCInsurance

Art. 70Captive Insurance Companies

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Bluebook

N.Y. Insurance § 7006 (2026).

Text

  § 7006. Annual report. Every captive insurance company licensed to do\na captive insurance business in this state shall file with the\nsuperintendent:\n  (a) annually on or before March first, a statement of its financial\ncondition and any amendment to the plan of operation at last year-end,\nverified by the oath of at least two of its executive officers. The\nstatement shall be in the form prescribed by the superintendent; and\n  (b) annually on or before July first, a report of its financial\ncondition at last year-end with an opinion of an independent certified\npublic accountant; and\n  (c) annually on or before July first, evidence in a form prescribed by\nthe superintendent, that the industrial insured or member of the\nindustrial insured group owning the captive insurance company

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§ 7006. Annual report. Every captive insurance company licensed to do\na captive insurance business in this state shall file with the\nsuperintendent:\n (a) annually on or before March first, a statement of its financial\ncondition and any amendment to the plan of operation at last year-end,\nverified by the oath of at least two of its executive officers. The\nstatement shall be in the form prescribed by the superintendent; and\n (b) annually on or before July first, a report of its financial\ncondition at last year-end with an opinion of an independent certified\npublic accountant; and\n (c) annually on or before July first, evidence in a form prescribed by\nthe superintendent, that the industrial insured or member of the\nindustrial insured group owning the captive insurance company continues\nto meet the financial standards set forth in subsection (e) of section\nseven thousand two of this article.\n