Insurance Law 6701 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search up ARTICLE 67 Nonprofit Property/casualty Insurance Companies next SECTION 6702 Definitions Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 6701 Purpose; construction Insurance (ISC) CHAPTER 28, ARTICLE 67 § 6701. Purpose; construction. (a) The purpose of this article is to provide for the organization and licensing of a nonprofit property/casualty insurance company that insures nonprofit organizations and that will qualify, and continue to qualify, as a "qualified charitable risk pool" as defined in subsection (n) of section 501 of the Internal Revenue Code. (b) This article shall be liberally construed to effect the purpose under subsection (a) of this section which shall constitute an aid and guide to interpretation.