N.Y. Public Health Law Section 4611
Reserves and supporting assets

1.

An operator shall maintain reserve liabilities and supporting assets in an amount and for the purposes set forth in a regulation issued by the superintendent of financial services. Liquid assets must be maintained for the following reserve liabilities:

a.

Principal and interest payments and payments for taxes and insurance for up to twelve months;

b.

Total estimated operating costs for up to six months as set by the superintendent;

c.

Repairs and replacements for up to twelve months; and

d.

In addition, the amount of liquid assets must meet any cash flow requirements and conditions as set forth in a regulation.

2.

The assets in support of reserve liabilities of subdivision one of this section shall meet quantitative and qualitative standards set forth in regulations issued by the superintendent.

Source: Section 4611 — Reserves and supporting assets, https://www.­nysenate.­gov/legislation/laws/PBH/4611 (updated Sep. 22, 2014; accessed May 4, 2024).

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Accessed:
May 4, 2024

Last modified:
Sep. 22, 2014

§ 4611’s source at nysenate​.gov

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