N.Y. Insurance Law Section 7502

In this article:


“Board” means the board of directors of The Life Insurance Guaranty Corporation.


“Assessment” means a payment made by a company into the guaranty fund.


“Contributor” means a company paying an assessment.


“Corporation” means “The Life Insurance Guaranty Corporation.” (e) “Fund” means the guaranty fund provided by this article.


“Member company” means any domestic life insurance company having a representative serving as a director upon the board of directors of the corporation.


“Policies” means insurance policies; “contracts” means annuity contracts; both terms include policies or contracts of reinsurance issued by a member company.

Source: Section 7502 — Definitions, https://www.­nysenate.­gov/legislation/laws/ISC/7502 (updated Sep. 22, 2014; accessed Jun. 15, 2024).

Jun. 15, 2024

Last modified:
Sep. 22, 2014

§ 7502’s source at nysenate​.gov

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