N.Y. Insurance Law § 7419: Injunctions

§ 7419. Injunctions. (a) Upon application by the superintendent for an

order to show cause under this article or at any time thereafter, the

court in which such order is made, or any justice thereof may without

notice issue an injunction restraining the insurer, its officers,

directors, shareholders, members, trustees, agents, servants, employees,

policyholders, attorneys, managers, and all other persons from the

transaction of its business or the waste or disposition of its property

until further order of the court.

(b) Such court or justice may at any time during a proceeding under

this article issue such other injunctions or orders as it deems

necessary to prevent interference with the superintendent or the

proceeding, or waste of the assets of the insurer, or the commencement

or prosecution of any actions, the obtaining of preferences, judgments,

attachments or other liens, or the making of any levy against the

insurer, its assets or any part thereof.

(c) Notwithstanding subsections (a) and (b) of this section and any

other provision of this article, a federal home loan bank shall not be

stayed, enjoined, or prohibited from exercising any right or enforcing

any obligation under a federal home loan bank security agreement

relating to collateral pledged by an insurer-member to such federal home

loan bank.