N.Y. Financial Services Law § 308: Judicial review of orders, regulations and decisions of superintendent

§ 308. Judicial review of orders, regulations and decisions of

superintendent. (a) Notwithstanding the specific enumerations of the

right to judicial review in this chapter, the insurance law or the

banking law, any order, regulation or decision of the superintendent is

declared to be subject to judicial review in a proceeding under article

seventy-eight of the civil practice law and rules, provided that nothing

in this section or article seventy-eight of the civil practice law and

rules shall affect the time period provided in the banking law or the

insurance law for commencing such proceeding.

(b) Except as provided in section two thousand one hundred twenty-four

of the insurance law, the commencement of such proceeding shall not

affect the enforcement or validity of the superintendent's order,

regulation or decision under review unless the court shall determine,

after a preliminary hearing of which the superintendent is notified at

least forty-eight hours in advance, that a stay of enforcement pending

the proceeding or until further direction of the court will not unduly

injure the interests of the people of the state, in which case a stay of

execution may be granted.