Statute · New York Insurance Law
N.Y. Ins. Law § 6701 — Purpose; construction
N.Y. Ins. Law § 6701
- Type
- Statute
- Source
- New York Insurance Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 6701. Purpose; construction. (a) The purpose of this article is to provide for the organization and licensing of a nonprofit property/casualty insurance company that insures nonprofit organizations and that will qualify, and continue to qualify, as a "qualified charitable risk pool" as defined…
Citator
N.Y. Ins. Law § 6701 — Purpose; construction is in force in the current edition of the Code, and nothing recorded condemns it.
§ 6701. Purpose; construction. (a) The purpose of this article is to provide for the organization and licensing of a nonprofit property/casualty insurance company that insures nonprofit organizations and that will qualify, and continue to qualify, as a "qualified charitable risk pool" as defined in subsection (n) of section 501 of the Internal Revenue Code.
(b) This article shall be liberally construed to effect the purpose under subsection (a) of this section which shall constitute an aid and guide to interpretation.