Section 6706. Applicability of other provisions of this chapter  


Latest version.
  • (a) Except
      as otherwise provided in this  article,  where  inconsistent  with  this
      article,  or where the context otherwise requires, all of the provisions
      of this chapter and the rules and  regulations  of  the  superintendent,
      relating  to  all  insurers  and  those  relating  to  property/casualty
      insurance companies transacting the same  kind  or  kinds  of  insurance
      shall  be  applicable to a nonprofit property/casualty insurance company
      organized as a type B corporation pursuant to paragraph (b)  of  section
      two  hundred  one  of  the  not-for-profit  corporation law and licensed
      pursuant to subsection (b) of section six thousand seven hundred four of
      this  article.  Where  any  of  such  provisions  of  law  refer  to   a
      corporation,   company   or  insurer,  such  references,  when  read  in
      connection with and applicable  to  this  article,  shall  mean  such  a
      nonprofit property/casualty insurance company.
        (b)  Except  as otherwise provided in this article, where inconsistent
      with this article, or where the context otherwise requires, all  of  the
      provisions  of  this  chapter  and  the  rules  and  regulations  of the
      superintendent,  relating  to  all  insurers  and  those   relating   to
      reciprocal  insurers  transacting  the  same  kind or kinds of insurance
      shall be applicable to a nonprofit property/casualty  insurance  company
      organized  as a reciprocal insurer pursuant to article sixty-one of this
      chapter and licensed pursuant to subsection (c) of section six  thousand
      seven  hundred four of this article. Where any of such provisions of law
      refer to a corporation, company or insurer, such references,  when  read
      in  connection  with  and  applicable to this article, shall mean such a
      nonprofit property/casualty insurance company.
        (c) (1) Every nonprofit property/casualty insurance company  shall  be
      subject  to  liquidation,  dissolution or rehabilitation pursuant to the
      provisions of article seventy-four of this chapter, and such  proceeding
      shall  be  under  the  supervision of the superintendent, who shall have
      such powers granted pursuant to the provisions of such  article  as  are
      applicable to domestic insurance companies.
        (2)  Articles ten, eleven and twelve of the not-for-profit corporation
      law shall not apply to nonprofit property/casualty insurance companies.