N.Y. Insurance Law § 1611: Aggregate limitations

§ 1611. Aggregate limitations. (a) The aggregate investment by the

insurer and its subsidiaries in assets which are owned, managed or

acquired pursuant to this article shall not exceed the limitations of

this chapter otherwise applicable to such investments if held directly

by the insurer.

(b) The aggregate amount of the insurer's investment in subsidiaries

shall not exceed fifteen percent of the insurer's invested assets, as

defined in subsection (a) of section one thousand four hundred one of

this chapter and as shown by its last statement on file with the

superintendent, but excluded from this limitation shall be any

investment in a subsidiary which is an insurance company and any

investment in a subsidiary of the type described in paragraph nine of

subsection (a) of section one thousand four hundred four or subparagraph

(B) of paragraph four of subsection (a) of section one thousand four

hundred seven of this chapter.