N.Y. ISC Law § 1220
This is the official text of N.Y. ISC Law § 1220, 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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Misconduct by officers and directors of co-operative fire insurance companies and of fraternal benefit societies
Official statutory text
§ 1220. Misconduct by officers and directors of co-operative fire\ninsurance companies and of fraternal benefit societies. No officer or\ndirector of a co-operative fire insurance company or of a fraternal\nbenefit society shall sell his position as such officer or director for\nany money or valuable consideration, or accept or receive, directly or\nindirectly, any money or valuable consideration for his resignation as\nsuch officer or director. He shall be guilty of a felony if any money or\nvaluable consideration accepted or received for any such sale or\nresignation exceeds five hundred dollars. If it is a less amount, he\nshall be guilty of a misdemeanor.\n
Status: in_force · Read it on the official government site
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