N.Y. Insurance Law Section 1609
Prohibitions on investments of subsidiaries

No subsidiary acquired by a domestic insurance company pursuant to this article shall make any investment prohibited by subsection (a) of § 1407 (Non-reserve and prohibited investments for property/casualty and certain other insurers)section one thousand four hundred seven of this chapter except that an alien subsidiary may make investments in excess of the limitations described in paragraph seven of such subsection if found by the superintendent to be reasonably necessary to protect the interests of the parent corporation or those of its alien subsidiary and not prejudicial to the interests of the people of this state.

Source: Section 1609 — Prohibitions on investments of subsidiaries, https://www.­nysenate.­gov/legislation/laws/ISC/1609 (updated Sep. 22, 2014; accessed Jan. 18, 2025).

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Accessed:
Jan. 18, 2025

Last modified:
Sep. 22, 2014

§ 1609’s source at nysenate​.gov

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