N.Y. Ins. Law § 7315
Current through 2024 NY Law Chapter 553
Notwithstanding any other provision of this chapter, a domestic mutual life insurance company which has a surplus of less than one million dollars as shown on its last filed annual statement may reorganize into a domestic stock life insurance company in accordance with a plan of reorganization found by the superintendent to be fair and equitable.
N.Y. Ins. Law § 7315