New York § 7419 Injunctions

New York Statutes

§ 7419 — Injunctions

New York § 7419

Law ISCInsurance

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

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Bluebook

N.Y. Insurance § 7419 (2026).

Text

§ 7419. Injunctions.

(a)Upon application by the superintendent for an\norder to show cause under this article or at any time thereafter, the\ncourt in which such order is made, or any justice thereof may without\nnotice issue an injunction restraining the insurer, its officers,\ndirectors, shareholders, members, trustees, agents, servants, employees,\npolicyholders, attorneys, managers, and all other persons from the\ntransaction of its business or the waste or disposition of its property\nuntil further order of the court.\n (b) Such court or justice may at any time during a proceeding under\nthis article issue such other injunctions or orders as it deems\nnecessary to prevent interference with the superintendent or the\nproceeding, or waste of the assets of the insurer, or the commenc

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§ 7419. Injunctions. (a) Upon application by the superintendent for an\norder to show cause under this article or at any time thereafter, the\ncourt in which such order is made, or any justice thereof may without\nnotice issue an injunction restraining the insurer, its officers,\ndirectors, shareholders, members, trustees, agents, servants, employees,\npolicyholders, attorneys, managers, and all other persons from the\ntransaction of its business or the waste or disposition of its property\nuntil further order of the court.\n (b) Such court or justice may at any time during a proceeding under\nthis article issue such other injunctions or orders as it deems\nnecessary to prevent interference with the superintendent or the\nproceeding, or waste of the assets of the insurer, or the commencement\nor prosecution of any actions, the obtaining of preferences, judgments,\nattachments or other liens, or the making of any levy against the\ninsurer, its assets or any part thereof.\n (c) Notwithstanding subsections (a) and (b) of this section and any\nother provision of this article, a federal home loan bank shall not be\nstayed, enjoined, or prohibited from exercising any right or enforcing\nany obligation under a federal home loan bank security agreement\nrelating to collateral pledged by an insurer-member to such federal home\nloan bank.\n