Statute · New York Insurance Law
N.Y. Ins. Law § 1703 — Standard of care for investments in subsidiaries
N.Y. Ins. Law § 1703
- Type
- Statute
- Source
- New York Insurance Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 1703. Standard of care for investments in subsidiaries. In addition to other requirements of law (statutory or otherwise) that affect the standard of care of directors and officers of corporations, directors and officers shall perform their duties in connection with investments in, or other…
Citator
N.Y. Ins. Law § 1703 — Standard of care for investments in subsidiaries is in force in the current edition of the Code, and nothing recorded condemns it.
§ 1703. Standard of care for investments in subsidiaries. In addition to other requirements of law (statutory or otherwise) that affect the standard of care of directors and officers of corporations, directors and officers shall perform their duties in connection with investments in, or other acquisitions of, subsidiaries in good faith and with that degree of care that an ordinarily prudent individual in a like position would use under similar circumstances.