N.Y. Insurance Law § 7113: Transfer of deposits to surviving or consolidated company

§ 7113. Transfer of deposits to surviving or consolidated company. If

any constituent company in a merger or consolidation under the

provisions of this article shall have on deposit with the superintendent

securities held for the benefit and protection of all of its

policyholders or policyholders and creditors within the United States,

the superintendent is authorized, upon the completion of such merger or

consolidation, to transfer residuary interest in such deposit of such

constituent company to the surviving or consolidated company, and to

release such deposit or any part thereof if no longer required of such

surviving or consolidated company under the provisions of this chapter.