What is New York insurance law 2115?
Asked by: Amani Haag | Last update: February 5, 2025Score: 4.4/5 (1 votes)
What is New York Insurance Law 4105?
Domestic stock companies; declaration and payment of dividends. (a) Except as provided in subsection (c) of this section no domestic stock property/casualty insurance company shall declare or distribute any dividend to shareholders except out of earned surplus.
What is NY Insurance Law 4231?
No domestic mutual life insurance company shall issue non-participating policies or contracts, other than those specified in the preceding sentence, unless it has a special revocable permit from the superintendent to do so. Any such company may apply to the superintendent for such a permit.
What is NY insurance law 4216?
A policy on which no part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance must insure all eligible persons, excluding any as to whom evidence of individual insurability is not satisfactory to the insurer.
What is Section 312 of the New York insurance law?
Report on examination to be forwarded. (a) The superintendent shall forward to every insurer or other person examined a copy of the report on examination as filed for public inspection, together with any recommendations or statements relating thereto which he may deem proper.
New York State Insurance Laws
Which is covered by the Section 312 rule?
Section 312 contains a provision requiring U.S. financial institutions to apply enhanced due diligence when establishing or maintaining a correspondent account for a foreign bank that is operating: (1) under an offshore license; (2) in a jurisdiction found to be non-cooperative with international anti-money laundering ...
What is Article 43 of the NYS insurance law?
The Article 43 Corporation must maintain operations in New York with officers and personnel having decision making powers adequate to provide the primary functions and services necessary to fulfill its responsibilities to policyholders and its obligations under the New York Insurance Law.
What is New York Insurance Law 3234?
New York Insurance Law Section 3234 provides, in pertinent part, that every insurer, including an HMO, is required to provide its insured or subscriber with an EOB in response to a filed claim under any policy providing hospital or medical expense benefits.
What is New York Insurance Law 4240?
(1) Income, gains and losses, whether or not realized, from assets allocated to a separate account shall, in accordance with the applicable agreement or agreements, be credited to or charged against such account without regard to other income, gains or losses of the insurer.
What is New York Insurance Law 3214?
New York Ins. Law § 3214 (c) requires the payment of interest on the proceeds of an insurance policy or annuity contract that are paid to a beneficiary following a death claim thereon. The statute provides as follows: § 3214.
What is New York Insurance Law 1503?
(a) Every person who becomes a controlled insurer shall, within thirty days thereafter register with the superintendent and shall amend the registration within thirty days following any change in the identity of its holding company or any other material change to the information provided in the registration.
What is the rule 15 in insurance?
Public Law 15 (McCarran Act) is a congressional act of 1945 exempting insurance from federal antitrust laws to the extent that the individual states regulate the industry.
What is New York Insurance Law 2112?
Certificate of appointment of an insurance producer to act as an agent and notice of termination of an insurance producer.
What is NY Insurance Law 1102?
(a) No person, firm, association, corporation or joint-stock company shall do an insurance business in this state unless authorized by a license in force pursuant to the provisions of this chapter, or exempted by the provisions of this chapter from such requirement.
What is New York Insurance Law 1411?
No domestic insurer shall enter into any agreement in connection with the sale of any property to repurchase such property or any part thereof, except that such an insurer may (subject to the provisions of subsection (b) of this section) sell securities subject to an unconditional obligation to repurchase the same on a ...
What is NY Insurance Law 403?
"Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act ...
What is NY INS law 2114?
(a)(1) No insurer or fraternal benefit society doing business in this state shall pay any commission or other compensation to any person, firm or corporation, for any services in obtaining in this state any new contract of life insurance or any new annuity contract, except to a licensed life insurance agent of such ...
What is Section 4119 of the New York Insurance Law?
A company seeking accreditation in New York must also meet the seasoning requirement of Section 4119 of the New York Insurance Law. This section provides that the company must have continuously transacted an insurance business in its state of incorporation for at least three years.
What is Section 770 of the insurance Code?
No person engaged in the business of financing the purchase of real or personal property or of lending money on the security of real or personal property and no trustee, director, officer, agent or other employee, or affiliate of, any such person shall require, as a condition precedent to financing the purchase of such ...
What is Section 7427 of the New York Insurance Law?
Offsets. (a) In all cases of mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under this article, such credits and debts shall be set off and the balance only shall be allowed or paid, except as provided in subsection (b) hereof.
What is Article 79 of the New York Insurance Law?
Article 79 exempts the business of service contracts from all other provisions of the Insurance Law and establishes a framework by which service contract providers must be registered with, and subject to the jurisdiction of the Superintendent. N.Y.
What is NY Labor Law 215 A?
No employer or his or her duly authorized agent shall transfer or in any other manner penalize or threaten, expressly or impliedly, an employee as to his or her employment in a manner, including, but not limited to, a reassignment, a scheduling change, an adverse evaluation, a constructive dismissal, the denial of a ...
What is regulation 64 New York insurance?
tit. 11, § 216.9 (a) (1995) (Regulation 64), refers to a claim brought under a liability insurance policy by a party other than the insured, where the claimant is a natural person. N.Y.
What is Article 24 of the New York Insurance Law?
Article 24 - Unfair Methods of Competition and Unfair and Deceptive Acts and Practices. 2403 - Unfair Methods of Competition or Unfair and Deceptive Acts or Practices Prohibited.
What is Section 13 of the insurance Act?
(1)Every insurer carrying on life insurance business shall, once at least every year cause an investigation to be made by an actuary into the financial condition of the life insurance business carried on by him, including a valuation of his liabilities in respect thereto and shall cause an abstract of the report of ...