Section 6609. Policy forms  


Latest version.
  • (a)  (1)  Every form of policy issued by any
      co-operative property/casualty insurance company shall indicate in words
      prominently displayed at the top of the first page, and in type of which
      the face shall not be smaller than twelve point,  that  such  policy  is
      issued on the co-operative plan.
        (2)  Each  form  of  policy  issued  by  such a corporation shall also
      include on the page following that  concluding  the  policy  proper  and
      under  appropriate  caption all provisions of the corporation's by-laws,
      whether required or permitted, relative to meetings of members, election
      of  directors,  rights  and  obligations   of   members,   extraordinary
      assessments, and contingent liability.
        (b)  No  policy  form  shall be delivered or issued for delivery by an
      assessment corporation unless it  has  been  filed  by  said  assessment
      corporation with the superintendent and he has approved it.
        (c) The standard fire insurance policy, insofar as required for use by
      domestic  mutual  property/casualty insurance companies by section three
      thousand four hundred four of this chapter, shall also be  required  for
      use by all co-operative property/casualty insurance companies, with such
      modifications  therein  as  shall  be  permitted  by  regulation  of the
      superintendent.
        (d) Two or more advance premium corporations or two or more assessment
      corporations may issue a combination policy, as provided for in  section
      three   thousand   four   hundred   four  of  this  chapter,  with  such
      modifications  permitted  by  regulation  of  the  superintendent,  upon
      property located in territory wherein all the participating corporations
      named in such policy are licensed to do business.