Liability of directors and members
Source:
Section 5205 — Liability of directors and members, https://www.nysenate.gov/legislation/laws/ISC/5205 (updated Sep. 22, 2014; accessed Feb. 7, 2026).
5201
Title and purpose 5202
Definitions 5203
Motor vehicle accident indemnification corporation 5204
Board of directors 5205
Liability of directors and members 5206
Powers of corporation 5207
Assessments against members 5208
Notice of claim 5209
Investigation and defense of claims 5210
Application for payment of judgment 5211
Hearing on application for payment of judgment 5212
Order for payment of judgment 5213
Settlement of claims or actions 5214
Default and consent judgments 5215
Collusive judgments 5216
Assignments of judgments to corporation 5217
“Hit and run” causes of action 5218
Procedure for “hit and run” cases 5219
Disclaimer or denial of coverage cases 5220
Notice of judgment to commissioner 5221
“No-fault” benefits to qualified persons 5222
Examination of corporation 5224
Penalty for false statements 5225
Exemption from taxation
Title and purpose 5202
Definitions 5203
Motor vehicle accident indemnification corporation 5204
Board of directors 5205
Liability of directors and members 5206
Powers of corporation 5207
Assessments against members 5208
Notice of claim 5209
Investigation and defense of claims 5210
Application for payment of judgment 5211
Hearing on application for payment of judgment 5212
Order for payment of judgment 5213
Settlement of claims or actions 5214
Default and consent judgments 5215
Collusive judgments 5216
Assignments of judgments to corporation 5217
“Hit and run” causes of action 5218
Procedure for “hit and run” cases 5219
Disclaimer or denial of coverage cases 5220
Notice of judgment to commissioner 5221
“No-fault” benefits to qualified persons 5222
Examination of corporation 5224
Penalty for false statements 5225
Exemption from taxation
