N.Y. Insurance Law § 8009: Filing of plan; effective date of reorganization

§ 8009. Filing of plan; effective date of reorganization. (a) When the

superintendent has given his or her approval of the plan of

reorganization as provided in section eight thousand seven of this

article, and certification of approval of the plan by policyholders

entitled to vote on the plan has been made to the superintendent as

provided in section eight thousand eight of this article, a copy of the

plan of reorganization, with the superintendent's approval endorsed

thereon, shall be filed in the office of the superintendent. A copy of

such plan certified by the superintendent shall also be filed by the

reorganizing insurer in the office of the clerk of the county where the

principal office of the reorganizing insurer is located within thirty

days after the superintendent's approval.

(b) The plan of reorganization shall take effect in accordance with

its terms on the date and at the time when the filing in the office of

the superintendent required by this section has been made or on such

later date or at such later time, if any, as may have been specified in

or determined in accordance with the plan or pursuant thereto.

(c) As of the effective date, the superintendent shall issue an

amended certificate of authority to the reorganized insurer, and, if the

plan of reorganization specifies that the reorganized insurer proposes

to continue to issue for delivery in this state participating policies

or contracts, the superintendent shall, in accordance with subsection

(f) of section four thousand two hundred thirty-one of this chapter,

issue a permit authorizing it to do so.