§ 7101 — Definitions

New York § 7101

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 71: Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers

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§ 7101. Definitions. In this article:\n (a) "Merger" means the merger of two or more companies in a single\ncompany which is one of the constituent companies.\n (b) "Consolidation" means the consolidation of two or more companies\ninto a single new company.\n (c) "Constituent company" means an existing company that is\nparticipating in the merger or consolidation with one or more other\ncompanies.\n (d) "Surviving company" means the constituent company into which one\nor more other constituent companies are merged.\n (e) "Consolidated company" means the new company into which two or\nmore constituent companies are consolidated.\n (f) "Company" means an insurance company.\n (g) "Acquisition of assets" and "acquire the assets of", means the\nacquisition through the purchase or otherwise of all or substantially\nall of the assets of a domestic company or of any company by a domestic\ncompany.\n