Insurance Law 1609 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 1608 Relationships and transactions between parent and subsidiary up ARTICLE 16 Subsidiaries of Domestic Property/casualty Insurance Companies and Certain Other Entities next SECTION 1610 Authority to conduct certain business directly instead of through subsidiary Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 1609 Prohibitions on investments of subsidiaries Insurance (ISC) CHAPTER 28, ARTICLE 16 § 1609. Prohibitions on investments of subsidiaries. No subsidiary acquired by a domestic insurance company pursuant to this article shall make any investment prohibited by subsection (a) of section one thousand four hundred seven of this chapter except that an alien subsidiary may make investments in excess of the limitations described in paragraph seven of such subsection if found by the superintendent to be reasonably necessary to protect the interests of the parent corporation or those of its alien subsidiary and not prejudicial to the interests of the people of this state.