ยง 1609. Prohibitions on investments of subsidiaries. No subsidiary
acquired by a domestic insurance company pursuant to this article shall
make any investment prohibited by subsection (a) of section one thousand
four hundred seven of this chapter except that an alien subsidiary may
make investments in excess of the limitations described in paragraph
seven of such subsection if found by the superintendent to be reasonably
necessary to protect the interests of the parent corporation or those of
its alien subsidiary and not prejudicial to the interests of the people
of this state.
Structure New York Laws
1601 - Authority to Invest in Subsidiaries; Businesses of Subsidiaries.
1602 - Minimum Ownership of Subsidiaries' Shares.
1603 - Notice of Intent to Acquire or Divest.
1605 - When Corporation Is Deemed a Subsidiary.
1606 - Valuation of Shares of Subsidiary.
1607 - Subsidiary's Name Not to Mislead.
1608 - Relationships and Transactions Between Parent and Subsidiary.
1609 - Prohibitions on Investments of Subsidiaries.
1610 - Authority to Conduct Certain Business Directly Instead of Through Subsidiary.