Insurance Law 1217 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 1216 Notice of indemnification of directors and officers of insurance corporations up ARTICLE 12 Organization and Corporate Procedure next SECTION 1218 Regulation of stock ownership, interlocking directors and common management Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 1217 Vouchers for disbursements Insurance (ISC) CHAPTER 28, ARTICLE 12 § 1217. Vouchers for disbursements. No domestic insurance company shall make any disbursement of one hundred dollars or more unless evidenced by a voucher signed by or on behalf of the payee as compensation for goods or services rendered for the company, and correctly describing the consideration for the payment. If such disbursement be for services and disbursements, such vouchers shall set forth the services rendered and itemize the disbursements; if it is in connection with any matter pending before any legislative or public body or before any government department or officer, the voucher shall correctly describe also the nature of the matter and the company's interest therein. If such a voucher is unobtainable, the disbursement shall be evidenced by a statement of an officer or responsible employee affirmed by him as true under the penalties of perjury, stating the reasons therefor and setting forth the particulars above mentioned.