7603 – Property/casualty Insurance Security Fund.
§ 7603. Property/casualty insurance security fund. (a) (1) The property/casualty insurance security fund shall be used in the payment of allowed claims remaining unpaid, in whole or in part, by reason of the inability due to insolvency of an authorized insurer to meet its insurance obligations under policies: (A) on account of claims from motor […]
7604 – Public Motor Vehicle Liability Security Fund.
§ 7604. Public motor vehicle liability security fund. (a) The purpose of the public motor vehicle liability security fund is to secure the benefits contemplated by section three hundred seventy of the vehicle and traffic law in those cases where a policy of insurance or corporate surety bond, therein described, of a solvent and responsible […]
7605 – Quarterly Returns.
§ 7605. Quarterly returns. With respect to each fund subject to this article, every insurer on or before the fifteenth days of February, May, August and November of each year, shall file, with the commissioner and the superintendent identical returns, subscribed and affirmed by the insurer to be true under the penalties of perjury, on […]
7606 – Determination of Net Value of Funds; Limits.
§ 7606. Determination of net value of funds; limits. (a) The superintendent shall annually, on or before March first, ascertain and determine the net value of each fund as of the next preceding December thirty-first by deducting from the value of the assets of each fund, ascertained pursuant to this article, the aggregate actual and […]