1324 – Risk-Based Capital for Property/casualty Insurance Companies.
§ 1324. Risk-based capital for property/casualty insurance companies. (a) Definitions. In this section: (1) “Adjusted RBC report” means an RBC report which has been adjusted by the superintendent in accordance with paragraph two of subsection (c) of this section. (2) “Corrective order” means an order issued by the superintendent specifying corrective actions which the superintendent […]
1325 – Exemption.
§ 1325. Exemption. For the purposes of exempting certain insurance companies from the provisions of section one thousand three hundred twenty-four of this article, the superintendent shall exempt, through December thirty-first, two thousand twenty-five, those stock and non-stock insurance companies to which subparagraph (B) of paragraph two of subsection (b) of such section applies.
1316 – Voluntary Deposits.
§ 1316. Voluntary deposits. The superintendent may receive from any authorized insurer a deposit required by or pursuant to the laws of another state as a prerequisite to doing business in such other state, and may also receive from any insurer any additions to its deposits which are reasonably necessary to maintain the aggregate value […]
1317 – Release of Deposits.
§ 1317. Release of deposits. (a) (1) In this section, “release of deposits” means the transfer and delivery by the superintendent of deposited securities to the depositing insurer at its request, or to a person designated by it in writing, without substitution of other securities. The superintendent may require authentication or proof of such request, […]
1318 – Deposits, Securities Eligible.
§ 1318. Deposits, securities eligible. (a) Except as otherwise provided in this chapter, every deposit made with the superintendent shall be in the securities specified in paragraphs one and two of subsection (b) of section one thousand four hundred two of this chapter, estimated at an amount not exceeding their current market value, but their […]
1319 – Deposits by Foreign Insurers.
§ 1319. Deposits by foreign insurers. (a) Every foreign insurer doing business in this state shall keep on deposit with the superintendent, or with the state officer of its home state designated by law for such purpose, the same amount of securities which a like domestic insurer transacting the same kinds of insurance is required […]
1320 – Deposits by Alien Insurers; Statutory Deposits.
§ 1320. Deposits by alien insurers; statutory deposits. (a) No alien insurer authorized to do an insurance business in this state shall do such business unless it shall have securities deposited (for the benefit of all its policyholders, or all its policyholders and creditors, in the United States) with the superintendent or with proper state […]
1321 – Commutation of Reinsurance Agreements.
§ 1321. Commutation of reinsurance agreements. (a) If the superintendent finds that a domestic insurer or a United States branch of an alien insurer entered through this state is impaired or insolvent within the meaning of this chapter, the superintendent may permit such insurer to utilize commutations of reinsurance agreements to eliminate the impairment or […]
1322 – Risk-Based Capital for Life Insurance Companies, Accident and Health Insurance Companies, Corporations Organized Pursuant to Article Forty-Three of This Chapter, and Certain Health Maintenance Organizations.
§ 1322. Risk-based capital for life insurance companies, accident and health insurance companies, corporations organized pursuant to article forty-three of this chapter, and certain health maintenance organizations. (a) Definitions. In this section: (1) “Adjusted RBC report” means a RBC report which has been adjusted by the superintendent in accordance with paragraph three of subsection (c) […]
1323 – Issuance of Capital Notes by Domestic Life Insurance Companies
§ 1323. Issuance of capital notes by domestic life insurance companies. (a) A domestic life insurance company may at any time or from time to time issue capital notes pursuant to this section in an aggregate principal amount not exceeding (1) twenty-five percent of its total adjusted capital (including the aggregate principal amount of outstanding […]