New York § 7417 Commencement of a proceeding

New York Statutes

§ 7417 — Commencement of a proceeding

New York § 7417

Law ISCInsurance

Art. 74Rehabilitation, Liquidation, Conservation and Dissolution of Insurers

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Bluebook

N.Y. Insurance § 7417 (2026).

Text

  § 7417. Commencement of a proceeding. The superintendent represented\nby the attorney general shall commence any proceeding under this article\nby an application to the supreme court, in the judicial district in\nwhich the principal office of the insurer is located, for an order\ndirecting such insurer to show cause why the superintendent should not\nhave the requested relief. On the return of such order, and after a full\nhearing, which shall be held without delay, such court shall either deny\nthe application or grant it together with such other relief as the\nnature of the case and the interests of policyholders, creditors,\nshareholders, members, or the public may require.\n

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§ 7417. Commencement of a proceeding. The superintendent represented\nby the attorney general shall commence any proceeding under this article\nby an application to the supreme court, in the judicial district in\nwhich the principal office of the insurer is located, for an order\ndirecting such insurer to show cause why the superintendent should not\nhave the requested relief. On the return of such order, and after a full\nhearing, which shall be held without delay, such court shall either deny\nthe application or grant it together with such other relief as the\nnature of the case and the interests of policyholders, creditors,\nshareholders, members, or the public may require.\n