N.Y. Insurance Law § 3103: Non-conforming contracts

§ 3103. Non-conforming contracts. (a) Except as otherwise specifically

provided in this chapter, any policy of insurance or contract of annuity

delivered or issued for delivery in this state in violation of any of

the provisions of this chapter shall be valid and binding upon the

insurer issuing the same, but in all respects in which its provisions

are in violation of the requirements or prohibitions of this chapter it

shall be enforceable as if it conformed with such requirements or

prohibitions.

(b) No policy of insurance or contract of annuity delivered or issued

for delivery in this state shall provide that the rights or obligations

of the insured or of any person rightfully claiming thereunder, with

respect to:

(1) a policy of life, accident and health insurance or contract of

annuity upon a person resident in this state,

(2) a policy of insurance upon property then in this state, or

(3) the liabilities to be incurred by the insured as a result of

activity then carried on by the insured in this state,

shall be governed by the laws of any jurisdiction other than this state.

This subsection shall not apply to policies of marine insurance.

(c) In any action to recover under the provisions of any policy of

insurance or contract of annuity delivered or issued for delivery in

this state which the superintendent is authorized by this chapter to

approve if in his opinion its provisions are more favorable to

policyholders, the court shall enforce such policy or contract as if its

provisions were the same as those specified in this chapter unless the

court finds that its actual provisions were more favorable to

policyholders at the date when the policy or contract was issued.