N.Y. Insurance Law Section 1103
Duration of licenses

(a)

Every license issued to a domestic insurer shall be for an indefinite term and shall expire with the expiration or termination of its corporate existence.

(b)

Every license, including every renewal license, issued to a foreign or alien insurer shall be for a term expiring on June thirtieth following the date of issuance, except that at any time after a licensed foreign or alien insurer has filed its annual statement pursuant to § 307 (Annual statements)section three hundred seven of this chapter the superintendent may issue to such insurer a renewal license for the next year.

Source: Section 1103 — Duration of licenses, https://www.­nysenate.­gov/legislation/laws/ISC/1103 (updated Sep. 22, 2014; accessed Apr. 27, 2024).

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Accessed:
Apr. 27, 2024

Last modified:
Sep. 22, 2014

§ 1103’s source at nysenate​.gov

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