1. The Laws of New York
  2. Consolidated Laws
  3. Insurance
  4. Article 73: Conversion to Different Type of Insurer

Section 7315 Reorganization of domestic life insurance companies

Insurance (ISC)

Notwithstanding any other provision of this chapter, a domestic mutual life insurance company which has a surplus of less than one million dollars as shown on its last filed annual statement may reorganize into a domestic stock life insurance company in accordance with a plan of reorganization found by the superintendent to be fair and equitable.