N.Y. Insurance Law § 7506: Companies excluded from article

§ 7506. Companies excluded from article. There is hereby excluded from

the provisions of this article any life insurance company organized and

operated, without profit to any private shareholder or individual,

exclusively to aid and strengthen charitable, religious, missionary,

educational or philanthropic institutions by issuing policies or

contracts only to or for the benefit of such institutions, to

individuals engaged in serving such institutions and to members of their

immediate families.