Section 1108. Insurers exempt from licensing and other requirements

The
  following  insurers,  their  officers,   agents,   representatives   and
  employees  shall be exempt from licensing and other requirements imposed
  by the provisions of this chapter (except article  seventy-four  hereof)
  to the extent specified below:
    (a)   Any   charitable   annuity   society  which  complies  with  the
  requirements of section one thousand one hundred ten of this article, to
  the extent therein stated.
    (b) Any fraternal benefit society,  membership  corporation  or  other
  organization exempted under the provisions of article forty-five of this
  chapter, to the extent therein stated.
    (c)  The  state  insurance  fund  of  this  state,  except  as  to the
  provisions of subsection (d)  of  section  two  thousand  three  hundred
  thirty-nine,  section  three  thousand  one hundred ten, subsection (a),
  paragraph one of subsection (b), paragraph three of subsection  (c)  and
  subsection (d) of section three thousand two hundred one, sections three
  thousand  two  hundred two, three thousand two hundred four, subsections
  (a) through (d)  of  section  three  thousand  two  hundred  twenty-one,
  subsections   (b)   and   (c)  of  section  four  thousand  two  hundred
  twenty-four,  section  four  thousand   two   hundred   twenty-six   and
  subsections (a) and (b) and (g) through (j) of section four thousand two
  hundred thirty-five of this chapter and except as otherwise specifically
  provided by the laws of this state.
    (d)  Any corporate trustee or board of trustees acting pursuant to the
  banking law in relation to the fund for insurance of deposits in savings
  banks  or  the  fund  for  insurance  of  shares  of  savings  and  loan
  associations.
    (e)  Any corporation, organized under the laws of any state, solely to
  provide gratuitously for support or relief of  the  priests,  clergy  or
  ministers  of any religious denomination, or their dependents, is exempt
  from all provisions of this chapter, except that any  such  corporation,
  created  by  special  act  of  incorporation of this state, which by the
  provisions of such act is subject to the requirement of examination  by,
  and  making  annual  reports to, the superintendent, shall be subject to
  the provisions of article three of this chapter relating to examinations
  and statements or reports by insurers.
    (f) Any retirement system or pension fund that was doing  business  on
  January first, nineteen hundred forty under the education law, the civil
  service law, the mental hygiene law, any special act of incorporation of
  this  state,  or  any  municipal  charter adopted under the laws of this
  state, exclusively for the benefit of the members of such system or fund
  or for all or any  classes  of  the  employees  of  this  state  or  any
  municipality  thereof,  shall  be  exempt  from  the  provisions of this
  chapter, except that if the law under which  such  system  or  fund  was
  organized  subjects  it  to  examination  by,  and  the making of annual
  reports to, the superintendent, such system or fund shall be subject  to
  the provisions of article three of this chapter relating to examinations
  and statements or reports by insurers.
    (g)  Any membership corporation or voluntary association organized and
  operating in  this  state  prior  to  January  first,  nineteen  hundred
  thirty-nine  and  its  members  may  act  as  indemnitors  of a licensed
  property/casualty insurance  company  in  respect  to  surety  bonds  or
  policies  of  insurance required to be filed by such members pursuant to
  section three hundred seventy of the vehicle and  traffic  law  and  are
  exempted  from  the  requirement  of having an insurer's license; but no
  such membership corporation or association shall become a surety on  any
  such bond or otherwise do an insurance business.

    (h)  Any  relief  department  or  pension  plan  of any common carrier
  subject to the the Railroad Retirement Act of 1974  (45  U.S.C.  §  31),
  whose  privileges  and  membership  are  confined to employees or former
  employees of such carrier or its affiliated or subsidiary companies,  or
  to  any  association  of such common carriers which administers any such
  department or plan.
    (i) Every blood credit system  established  by  a  city,  pursuant  to
  section twenty-one-d of the general city law.