Statute · New York Insurance Law
N.Y. Ins. Law § 7315 — Reorganization of domestic life insurance companies
N.Y. Ins. Law § 7315
- Type
- Statute
- Source
- New York Insurance Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 7315. Reorganization of domestic life insurance companies. Notwithstanding any other provision of this chapter, a domestic mutual life insurance company which has a surplus of less than one million dollars as shown on its last filed annual statement may reorganize into a domestic stock life…
Citator
N.Y. Ins. Law § 7315 — Reorganization of domestic life insurance companies is in force in the current edition of the Code, and nothing recorded condemns it.
§ 7315. Reorganization of domestic life insurance companies. Notwithstanding any other provision of this chapter, a domestic mutual life insurance company which has a surplus of less than one million dollars as shown on its last filed annual statement may reorganize into a domestic stock life insurance company in accordance with a plan of reorganization found by the superintendent to be fair and equitable.