N.Y. Insurance Law § 7009: Investments

§ 7009. Investments. (a) No captive insurance company shall be

subject to any restrictions on allowable investments, except as set

forth in subsections (b) and (c) of this section.

(b) A group captive insurance company shall not make loans to the

industrial insureds that comprise its industrial insured group. A pure

captive insurance company may make loans to its parent company or

affiliates with the prior approval of the superintendent. Such loan

must be evidenced by a note in a form approved by the superintendent.

Loans of minimum capital and surplus funds required by section seven

thousand four of this article are prohibited.

(c) The superintendent may prohibit or limit any investment that

threatens the solvency or liquidity of any captive insurance company.