§ 99. Powers of the superintendent. 1. If at any time during an acute
emergency, the number of directors or acting directors of a domestic
organization who are capable of acting shall be less than three, the
superintendent shall have the power to designate additional acting
directors in such number as will bring to three the number of directors
and acting directors who are capable of acting.

2. To resolve controversy as to the power of any group of persons
purporting to act as an emergency board of directors so to act, the
superintendent shall, upon a determination that such action will tend to
promote the safe and sound and orderly conduct of the business of any
domestic organization, have power to issue orders declaring that any
such group shall or shall not have the powers of an emergency board of
directors, or confirming, modifying or vacating in whole or in part any
action taken or purportedly taken by any such group or removing any
acting director.

3. (a) At any time after an attack, upon his determination that such
action will tend to promote certainty as to the powers of organizations
or individuals pursuant to this article or that such action is desirable
to enable organizations to take preparatory precautions prior to the
occurrence of an acute emergency, the superintendent shall have power to
declare that any provision of this article which he may specify shall be
operative with respect to any domestic organization or to the New York
business of any other organization which he may designate. Upon such
declaration such organization and its directors, officers, acting
directors and acting officers shall have all powers conferred by such
provisions of this article. The failure of the superintendent so to
declare shall not be deemed to limit the powers of any organization or
its directors, officers, acting directors or acting officers where an
acute emergency exists in fact.

(b) At any time after the commencement of an acute emergency or after
the superintendent shall have declared any provision of this article
operative pursuant to paragraph (a) of this subdivision, upon his
determination that an organization is able, in whole or in part, to
carry on its business in compliance with its charter and the laws other
than this article, the superintendent shall have power to declare that
any provision of this article which he may specify shall be inoperative
with respect to any domestic organization or to the New York business of
any other organization which he may designate. Upon such declaration,
such organization shall be governed by its charter and the provisions of
law other than this article, except insofar as other provisions of this
article remain operative.

4. Upon his determination that, as a result of an acute emergency, the
business and affairs of an organization cannot otherwise be conducted in
a safe and sound manner, the superintendent may forthwith take
possession of the business and property of the organization within this
state or, if a domestic organization its business and property wherever
situated. The provisions of sections five hundred seventeen through five
hundred twenty-four, inclusive, of the insurance law shall be applicable
in any case in which the superintendent takes possession of an
organization pursuant to this subdivision as though the organization
were an insurer which the superintendent had taken possession pursuant
to sections five hundred twelve and five hundred sixteen of such law,
except that no such provision shall be applicable which the
superintendent shall have declared inapplicable pursuant to this
subdivision. The superintendent shall have power to declare inapplicable
any such provision upon his determination that the same is inappropriate
or unnecessary to protect the interests of the public or the
stockholders or creditors of the organization, in view of the acute
emergency and the nature of the organization.

5. The powers given the superintendent by subdivisions two and four of
this section shall be exercised by him only in the event that there is
no court of competent jurisdiction available to which an application can
be made for an order permitting him to exercise such powers with respect
to a particular organization; provided, further, that the powers
conferred by subdivision four shall not be exercised in the case of an
organization which is not insolvent within the meaning of section
ninety-three of the insurance law, unless the superintendent finds that
such organization lacks personnel able to manage its business in the
interests of the public, its stockholders and policyholders.

6. The superintendent shall have power to issue general and specific
regulations, directives and orders consistent with and in furtherance of
the purposes of this article.