N.Y. Insurance Law Section 1703
Standard of care for investments in subsidiaries


In addition to other requirements of law (statutory or otherwise) that affect the standard of care of directors and officers of corporations, directors and officers shall perform their duties in connection with investments in, or other acquisitions of, subsidiaries in good faith and with that degree of care that an ordinarily prudent individual in a like position would use under similar circumstances.

Source: Section 1703 — Standard of care for investments in subsidiaries, https://www.­nysenate.­gov/legislation/laws/ISC/1703 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 1703’s source at nysenate​.gov

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