Section 1701. Authority to invest in subsidiaries; businesses of subsidiaries

Subject to the provisions of  section  one  thousand  two  hundred eighteen of this chapter:
    (a)  A  domestic life insurance company may, subject to the provisions
  of subsection (d) of section one thousand  four  hundred  five  of  this
  chapter,  invest  in,  or  otherwise  acquire,  subsidiaries  engaged or
  organized to engage in  any  business  lawful  under  the  laws  of  the
  jurisdictions in which such subsidiaries are organized;
    (b)  A  domestic  corporation  subject  to article forty-three of this
  chapter may invest in, or otherwise acquire, subsidiaries of  the  types
  described  in  subsection (b) of section one thousand seven hundred four
  of this article and subsidiaries engaged or organized to engage  in  (i)
  activities   that  such  corporation  could  engage  in  directly,  (ii)
  management or information services reasonably related to  the  provision
  of  health insurance, (iii) the delivery or financing of health care, or
  (iv) any other business directly related to providing administration  or
  sales  of  any employer provided or arranged employee health and welfare
  benefits, provided that notice of any  such  acquisition  or  investment
  shall be given to the superintendent within five days thereafter; and
    (c)  A domestic retirement system subject to article forty-six of this
  chapter may invest in, or otherwise acquire, subsidiaries of  the  types
  described  in  subsection (b) of section one thousand seven hundred four
  of this article and subsidiaries  of  the  type  authorized  by  article
  forty-six of this chapter.