(b) The aggregate amount of the insurer's investment in subsidiaries
shall not exceed fifteen percent of the insurer's invested assets, as
defined in subsection (a) of section one thousand four hundred one of
this chapter and as shown by its last statement on file with the
superintendent, but excluded from this limitation shall be any
investment in a subsidiary which is an insurance company and any
investment in a subsidiary of the type described in paragraph nine of
subsection (a) of section one thousand four hundred four or subparagraph
(B) of paragraph four of subsection (a) of section one thousand four
hundred seven of this chapter.
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.