N.Y. Insurance Law § 1703: Standard of care for investments in subsidiaries

§ 1703. Standard of care for investments in subsidiaries. In addition

to other requirements of law (statutory or otherwise) that affect the

standard of care of directors and officers of corporations, directors

and officers shall perform their duties in connection with investments

in, or other acquisitions of, subsidiaries in good faith and with that

degree of care that an ordinarily prudent individual in a like position

would use under similar circumstances.