§ 1701. Authority to invest in subsidiaries; businesses of
subsidiaries. Subject to the provisions of section one thousand two
hundred eighteen of this chapter:

(a) A domestic life insurance company may, subject to the provisions
of subsection (d) of section one thousand four hundred five of this
chapter, invest in, or otherwise acquire, subsidiaries engaged or
organized to engage in any business lawful under the laws of the
jurisdictions in which such subsidiaries are organized;

(b) A domestic corporation subject to article forty-three of this
chapter may invest in, or otherwise acquire, subsidiaries of the types
described in subsection (b) of section one thousand seven hundred four
of this article and subsidiaries engaged or organized to engage in (i)
activities that such corporation could engage in directly, (ii)
management or information services reasonably related to the provision
of health insurance, (iii) the delivery or financing of health care, or
(iv) any other business directly related to providing administration or
sales of any employer provided or arranged employee health and welfare
benefits, provided that notice of any such acquisition or investment
shall be given to the superintendent within five days thereafter; and

(c) A domestic retirement system subject to article forty-six of this
chapter may invest in, or otherwise acquire, subsidiaries of the types
described in subsection (b) of section one thousand seven hundred four
of this article and subsidiaries of the type authorized by article
forty-six of this chapter.