N.Y. Insurance Law Section 7315
Reorganization of domestic life insurance companies


Notwithstanding any other provision of this chapter, a domestic mutual life insurance company which has a surplus of less than one million dollars as shown on its last filed annual statement may reorganize into a domestic stock life insurance company in accordance with a plan of reorganization found by the superintendent to be fair and equitable.

Source: Section 7315 — Reorganization of domestic life insurance companies, https://www.­nysenate.­gov/legislation/laws/ISC/7315 (updated Sep. 22, 2014; accessed Dec. 21, 2024).

7301
Prohibited conversion
7302
Conversion of stock life insurance companies into mutual companies
7303
Conversion of retirement systems into mutual life insurance companies
7304
Conversion of fraternal benefit societies into mutual life insurance companies
7305
Conversion of assessment corporations into advance premium corporations
7306
Conversion of advance premium corporations or assessment corporations into mutual property/casualty insurance companies
7306‑A
Reconversion of domestic mutual property/casualty insurance company into advance premium corporation or assessment corporation
7307
Conversion of domestic mutual property/casualty insurance companies or advance premium corporations into domestic stock property/casualty...
7308
Conversion of domestic reciprocal insurers into stock property/casualty insurance companies
7309
Conversion of domestic reciprocal insurers into mutual property/casualty insurance companies
7310
Reorganization of domestic guarantee capital life insurance companies into domestic stock life insurance companies
7311
Conversion of domestic mutual property/casualty insurance companies or advance premium corporations into domestic stock property/casualty...
7312
Reorganization of a domestic mutual life insurer into a domestic stock life insurer
7313
Reorganization of domestic mutual accident and health insurance companies
7315
Reorganization of domestic life insurance companies
7316
Conversion of savings banks life insurance into a mutual life insurance company
7317
Conversion of certain article 43 corporations

Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 7315’s source at nysenate​.gov

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