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Statutes » New York » ISC Law » Article 23

N.Y. ISC Law § 2323

This is the official text of N.Y. ISC Law § 2323, 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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Profitability and rates of return; where prior approval is not required

Official statutory text

* § 2323. Profitability and rates of return; where prior approval is\nnot required. (a) The superintendent shall by regulation establish a\nmethod for determining profitability, from whatever source profits are\nderived, and rates of return on net worth, assets and earned premiums,\nwith respect to each kind of insurance subject to this article, based on\nreasonable and uniform assumptions, including assumptions as to:\n (1) amounts of net worth attributable to such kinds of insurance;\n (2) assets available for investment generated by such kinds of\ninsurance;\n (3) federal income taxes; and\n (4) average earnings on insurers' investments.\n (b) The regulation shall require insurers annually to report to the\nsuperintendent, who will make these reports available to the public,\nconcerning such profitability and rates of return.\n (c) This section shall be applicable to kinds of insurance or\ninsurance activities the rates for which, pursuant to subsection (a) of\nsection two thousand three hundred five of this article, are not subject\nto prior approval.\n * NB Expires July 1, 2026\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.