Statute · New York Insurance Law
N.Y. Ins. Law § 7116 — Liability of members of assessment company to continue
N.Y. Ins. Law § 7116
- Type
- Statute
- Source
- New York Insurance Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 7116. Liability of members of assessment company to continue. In case of a merger or consolidation of assessment companies the liability of members thereof to assessments shall continue and be transferred to the surviving or consolidated company.
Citator
N.Y. Ins. Law § 7116 — Liability of members of assessment company to continue is in force in the current edition of the Code, and nothing recorded condemns it.
§ 7116. Liability of members of assessment company to continue. In case of a merger or consolidation of assessment companies the liability of members thereof to assessments shall continue and be transferred to the surviving or consolidated company.