N.Y.
Insurance Law Section 6608
Extension of territory
(a)
The superintendent, upon application by any advance premium corporation may issue a license pursuant to § 1102 (Insurer’s license required)section one thousand one hundred two of this chapter to such corporation to do the business in counties additional to those in which it is then authorized or in the entire state if such corporation is in possession of a surplus to policyholders of one hundred thousand dollars or more, and is maintaining full unearned premium reserves in accordance with § 1305 (Unearned premium reserves)section one thousand three hundred five of this chapter.(b)
The superintendent, upon application by any assessment corporation, may issue a license pursuant to § 1102 (Insurer’s license required)section one thousand one hundred two of this chapter to such corporation to do business in adjoining counties additional to those in which it is then authorized or in the entire state with the exception of the counties of New York, Kings, Queens, Bronx and Richmond, if such corporation is in possession of a surplus to policyholders of one hundred thousand dollars or more, and is maintaining full unearned premium reserves in accordance with § 1305 (Unearned premium reserves)section one thousand three hundred five of this chapter.(c)
Every license issued by the superintendent pursuant to this section shall include the county in which the corporation to which it is issued maintains its principal office.(d)
Applications made to the superintendent pursuant to this section shall be in such form as he may by regulation require.
Source:
Section 6608 — Extension of territory, https://www.nysenate.gov/legislation/laws/ISC/6608 (updated Sep. 22, 2014; accessed Dec. 21, 2024).
