(a) It shall be entitled to exercise all powers conferred by virtue of
its charter as in effect on the effective date of this chapter, during
the term thereof, unless specifically prohibited by or pursuant to law.
(b) Subject to article seventy-four of this chapter, its duration
shall be perpetual.
(c) If it has a guarantee capital represented by shares, it may amend
any of the provisions of its charter.
Structure New York Laws
Article 12 - Organization and Corporate Procedure
1201 - Incorporation of Stock or Mutual Insurance Companies.
1203 - Non-Use of Corporate Charter.
1204 - Sale of Insurance Securities.
1206 - Amendments to Charters and Increase of Capital of Insurance Corporations.
1207 - Options for the Purchase of Shares.
1208 - Method of Amending Mutual Company Charters.
1209 - Management and By-Laws of Mutual Insurance Corporations.
1210 - By-Laws of Domestic Stock Life Insurance Companies.
1211 - Mutual Insurance Corporations; Membership and Dividends.
1212 - Service of Process Upon Superintendent as Attorney.
1213 - Service of Process on Superintendent as Attorney for Unauthorized Insurers.
1214 - Acting for Foreign Corporation Which Has Not Designated Superintendent as Attorney.
1215 - Forfeiture of Office by Director or Trustee of a Domestic Mutual Insurer.
1216 - Notice of Indemnification of Directors and Officers of Insurance Corporations.
1217 - Vouchers for Disbursements.
1218 - Regulation of Stock Ownership, Interlocking Directors and Common Management.
1219 - Misconduct by Directors; Insolvency.
1221 - Transactions by Officers, Directors and Certain Shareowners in the Insurer's Shares.