N.Y. Insurance Law § 1706: Exemptions applicable to parent corporation

§ 1706. Exemptions applicable to parent corporation. Except as

provided in subsection (d) of section one thousand four hundred five of

this chapter and except for investments deemed to be made or acquired

directly by the parent corporation (as provided in subsection (d) of

section one thousand seven hundred four of this article), investments by

parent corporations in subsidiaries are not subject to the limitations

on the making of investments provided for in section one thousand four

hundred three, section one thousand four hundred four (in the case of

insurers making investments under section one thousand four hundred

four) or section one thousand four hundred five (in the case of insurers

making investments under section one thousand four hundred five) of this

chapter.