N.Y. Insurance Law § 6622: Refunds from surplus; assessment corporations

§ 6622. Refunds from surplus; assessment corporations. (a) Subject to

the requirements of this article for the accumulation and maintenance of

minimum surplus, the surplus of any assessment corporation shall be

eligible for equitable distribution to its members, but no distribution

shall be made until authorized by the corporation's board of directors

nor until approved by the superintendent.

(b) In authorizing any such distribution the board of directors of an

assessment corporation may provide for apportionment thereof among

separate groups of members on the basis of underwriting experience

equitably classified according to major kinds of insurance.