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Home » US Law » 2022 New York Laws » Consolidated Laws » ISC - Insurance » Article 80 - Mutual Holding Company » 8016 – Prohibited Transactions by Officers, Directors and Employees.

§ 8016. Prohibited transactions by officers, directors and employees. No director, officer, agent or employee of the reorganizing insurer shall receive any fee, commission or other valuable consideration whatsoever, other than regular salary and compensation, for in any manner aiding, promoting or assisting in the reorganization except as set forth in the plan approved by the superintendent.