New York § 7315 Reorganization of domestic life insurance companies

New York Statutes

§ 7315 — Reorganization of domestic life insurance companies

New York § 7315

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Art. 73Conversion to Different Type of Insurer

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Bluebook

N.Y. Insurance § 7315 (2026).

Text

  § 7315. Reorganization of domestic life insurance companies.\nNotwithstanding any other provision of this chapter, a domestic mutual\nlife insurance company which has a surplus of less than one million\ndollars as shown on its last filed annual statement may reorganize into\na domestic stock life insurance company in accordance with a plan of\nreorganization found by the superintendent to be fair and equitable.\n

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§ 7315. Reorganization of domestic life insurance companies.\nNotwithstanding any other provision of this chapter, a domestic mutual\nlife insurance company which has a surplus of less than one million\ndollars as shown on its last filed annual statement may reorganize into\na domestic stock life insurance company in accordance with a plan of\nreorganization found by the superintendent to be fair and equitable.\n