N.Y. Banking Law § 577: Interpretation of article

§ 577. Interpretation of article. This article does not affect: (1)

the inclusion of amounts for insurance in retail instalment contracts or

obligations in accordance with the motor vehicle retail instalment sales

act or the retail instalment sales act; (2) the inclusion of amounts for

insurance in retail lease agreements in accordance with the motor

vehicle retail leasing act; or (3) the making of loans for the purpose

of financing insurance premiums:

(a) By any person at a rate of interest not greater than the rate

prescribed by the superintendent of financial services pursuant to

section fourteen-a of this chapter, or, if no rate has been so

prescribed, six per centum per annum; or

(b) By a lending institution in accordance with the applicable

provisions of other laws authorizing and regulating the making of loans

by the lending institution.