New York § 7109 Limitation on enlargement of powers

New York Statutes

§ 7109 — Limitation on enlargement of powers

New York § 7109

Law ISCInsurance

Art. 71Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers

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Bluebook

N.Y. Insurance § 7109 (2026).

Text

  § 7109. Limitation on enlargement of powers. This article shall not\nenlarge the charter powers of any company except in conformity with the\nprovisions of the proposed charter of the surviving or consolidated\ncompany as provided in section seven thousand one hundred three of this\narticle, nor authorize any company to do any kind of insurance business\nnot authorized by its charter, nor authorize any foreign or alien\ncompany to do any kind of insurance business in this state not\nauthorized by its license or certificate of authority to do business in\nthis state.\n

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§ 7109. Limitation on enlargement of powers. This article shall not\nenlarge the charter powers of any company except in conformity with the\nprovisions of the proposed charter of the surviving or consolidated\ncompany as provided in section seven thousand one hundred three of this\narticle, nor authorize any company to do any kind of insurance business\nnot authorized by its charter, nor authorize any foreign or alien\ncompany to do any kind of insurance business in this state not\nauthorized by its license or certificate of authority to do business in\nthis state.\n