N.Y. Insurance Law § 6702: Definitions

§ 6702. Definitions. As used in this article, the following terms

shall have the following meanings:

(a) "Member" shall, in the case of a nonprofit property/casualty

insurance company organized as a type B corporation pursuant to

paragraph (b) of section two hundred one of the not-for-profit

corporation law, have the meaning set forth in paragraph (a) of section

one hundred two of the not-for-profit corporation law or, in the case of

a nonprofit property/casualty insurance company organized as nonprofit

reciprocal insurer under article sixty-one of this chapter, have the

meaning set forth in subsection (g) of section six thousand one hundred

one of this chapter.

(b) "Nonmember charitable organization" shall have the meaning set

forth in subsection (n) of section 501 of the Internal Revenue Code.

(c) "Nonprofit organizations" means organizations described in

paragraph (3) of subsection (c), and exempt from taxation under

subsection (a), of section 501 of the Internal Revenue Code, including,

if qualified thereunder, type B or D organizations formed pursuant to

paragraph (b) of section two hundred one of the not-for-profit

corporation law, and organizations described in section two hundred

sixteen-a of the education law.

(d) "Startup capital" shall have the meaning set forth in subsection

(n) of section 501 of the Internal Revenue Code.