§ 7203 — Authorization and execution of domestication agreement

New York § 7203

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 72: Domestication of the United States Branch of an Alien Insurer

Text

§ 7203. Authorization and execution of domestication agreement. (a)\nSuch domestication agreement shall be authorized, adopted, approved,\nsigned and acknowledged by the alien insurer pursuant to the laws of the\ncountry where organized.\n (b) Such agreement shall also be approved, adopted and authorized by\nthe acquiring insurer's board of directors and executed by its president\nor any vice president and attested by its secretary or assistant\nsecretary under its corporate seal, or, in the case of a foreign\ninsurer, as otherwise provided in the laws of the state of its domicile.\n