N.Y. Insurance Law Section 7601
Property/casualty insurance security fund

  • public motor vehicle liability security fund

(a)

The property and liability insurance security fund is continued and shall hereafter be known as “the property/casualty insurance security fund”.

(b)

The public motor vehicle liability security fund is continued.

(c)

The property/casualty insurance security fund shall consist of all payments made to it by insurers and of securities acquired by and through the use of moneys belonging to it, together with interest and accretions earned upon such payments or investments earned prior to January first, nineteen hundred seventy-four.

(d)

The public motor vehicle liability security fund shall consist of all payments made to it by insurers and of securities acquired by and through the use of moneys belonging to it, together with interest and accretions earned upon such payments or investments.

(e)

Each fund shall be administered separately by the superintendent in accordance with this article.

Source: Section 7601 — Property/casualty insurance security fund; public motor vehicle liability security fund, https://www.­nysenate.­gov/legislation/laws/ISC/7601 (updated Sep. 22, 2014; accessed Dec. 21, 2024).

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Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 7601’s source at nysenate​.gov

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