{"data":{"id":"us-ny/n.y.-banking-law-577","jurisdiction":"us-ny","citation":"N.Y. Banking Law § 577","heading":"Interpretation of article","body":"§ 577. Interpretation of article. This article does not affect: (1)\nthe inclusion of amounts for insurance in retail instalment contracts or\nobligations in accordance with the motor vehicle retail instalment sales\nact or the retail instalment sales act; (2) the inclusion of amounts for\ninsurance in retail lease agreements in accordance with the motor\nvehicle retail leasing act; or (3) the making of loans for the purpose\nof financing insurance premiums:\n  (a) By any person at a rate of interest not greater than the rate\nprescribed by the superintendent of financial services pursuant to\nsection fourteen-a of this chapter, or, if no rate has been so\nprescribed, six per centum per annum; or\n  (b) By a lending institution in accordance with the applicable\nprovisions of other laws authorizing and regulating the making of loans\nby the lending institution.","path":["Banking Law","Article 12-B. Insurance Premium Finance Agencies"],"source_url":"https://legislation.nysenate.gov/api/3/laws/BNK/577","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"96d3e01457c4b6a4717adbb534fa941c25d1b80df34521c47676a5a760be4b76","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-banking-law-576","next":"us-ny/n.y.-banking-law-577-a"},"notice":"GroundRules: Original legal text. Not legal advice."}