N.Y. ISC Law § 1205
This is the official text of N.Y. ISC Law § 1205, part of New York’s ISC Law — part of the compiled statutory law of New York, published by the state as "ISC Law." Browse the sections below, each linked to its official government source.
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Existing corporations
Official statutory text
§ 1205. Existing corporations. Any insurance corporation incorporated\nunder the provisions of any law of this state and doing business as an\nauthorized insurer at the effective date of this chapter shall be\nsubject to the provisions of this chapter relating to such a\ncorporation, except that:\n (a) It shall be entitled to exercise all powers conferred by virtue of\nits charter as in effect on the effective date of this chapter, during\nthe term thereof, unless specifically prohibited by or pursuant to law.\n (b) Subject to article seventy-four of this chapter, its duration\nshall be perpetual.\n (c) If it has a guarantee capital represented by shares, it may amend\nany of the provisions of its charter.\n
Status: in_force · Read it on the official government site
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