Insurance Law 7001 — Legislation
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ARTICLE 70
Captive Insurance Companies
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SECTION 7002
Definitions
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SECTION 7001
Purpose and applicability
Insurance (ISC) CHAPTER 28, ARTICLE 70
§ 7001. Purpose and applicability. (a) The purpose of this article is
to facilitate the formation and operation of captive insurance companies
within the state of New York.
(b) In addition to the provisions of this article and this chapter
specifically referred to in this article, the following provisions of
this chapter shall apply to captive insurance companies:
(1) article one of this chapter, pertaining to general provisions;
(2) sections three hundred one, three hundred six, three hundred
eight, three hundred ten, three hundred eleven, three hundred twelve and
three hundred twenty-nine of this chapter and sections two hundred six,
three hundred three, three hundred four, three hundred five, three
hundred six, three hundred eight, and three hundred nine of the
financial services law, pertaining to certain administrative and
procedural provisions; and
(3) article seventy-four of this chapter, pertaining to
rehabilitation, liquidation, conservation and dissolution of insurers.