Statute · New York Insurance Law
N.Y. Ins. Law § 1609 — Prohibitions on investments of subsidiaries
N.Y. Ins. Law § 1609
- Type
- Statute
- Source
- New York Insurance Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 1609. Prohibitions on investments of subsidiaries. No subsidiary acquired by a domestic insurance company pursuant to this article shall make any investment prohibited by subsection (a) of section one thousand four hundred seven of this chapter except that an alien subsidiary may make…
Citator
N.Y. Ins. Law § 1609 — Prohibitions on investments of subsidiaries is in force in the current edition of the Code, and nothing recorded condemns it.
§ 1609. Prohibitions on investments of subsidiaries. No subsidiary acquired by a domestic insurance company pursuant to this article shall make any investment prohibited by subsection (a) of section one thousand four hundred seven of this chapter except that an alien subsidiary may make investments in excess of the limitations described in paragraph seven of such subsection if found by the superintendent to be reasonably necessary to protect the interests of the parent corporation or those of its alien subsidiary and not prejudicial to the interests of the people of this state.