N.Y. Insurance Law § 6706: Applicability of other provisions of this chapter

§ 6706. Applicability of other provisions of this chapter. (a) Except

as otherwise provided in this article, where inconsistent with this

article, or where the context otherwise requires, all of the provisions

of this chapter and the rules and regulations of the superintendent,

relating to all insurers and those relating to property/casualty

insurance companies transacting the same kind or kinds of insurance

shall be applicable to a nonprofit property/casualty insurance company

organized as a charitable corporation as defined in paragraph (a) of

section one hundred two (Definitions) of the not-for-profit corporation

law and formed pursuant to paragraph (a) of section two hundred one of

the not-for-profit corporation law and licensed pursuant to subsection

(b) of section six thousand seven hundred four of this article. Where

any of such provisions of law refer to a corporation, company or

insurer, such references, when read in connection with and applicable to

this article, shall mean such a nonprofit property/casualty insurance

company.

(b) Except as otherwise provided in this article, where inconsistent

with this article, or where the context otherwise requires, all of the

provisions of this chapter and the rules and regulations of the

superintendent, relating to all insurers and those relating to

reciprocal insurers transacting the same kind or kinds of insurance

shall be applicable to a nonprofit property/casualty insurance company

organized as a reciprocal insurer pursuant to article sixty-one of this

chapter and licensed pursuant to subsection (c) of section six thousand

seven hundred four of this article. Where any of such provisions of law

refer to a corporation, company or insurer, such references, when read

in connection with and applicable to this article, shall mean such a

nonprofit property/casualty insurance company.

(c) (1) Every nonprofit property/casualty insurance company shall be

subject to liquidation, dissolution or rehabilitation pursuant to the

provisions of article seventy-four of this chapter, and such proceeding

shall be under the supervision of the superintendent, who shall have

such powers granted pursuant to the provisions of such article as are

applicable to domestic insurance companies.

(2) Articles ten, eleven and twelve of the not-for-profit corporation

law shall not apply to nonprofit property/casualty insurance companies.