New York Laws
Article 17 - Subsidiaries of Domestic Life Insurance Companies and Certain Other Entities
1703 - Standard of Care for Investments in Subsidiaries.

§ 1703. Standard of care for investments in subsidiaries. In addition
to other requirements of law (statutory or otherwise) that affect the
standard of care of directors and officers of corporations, directors
and officers shall perform their duties in connection with investments
in, or other acquisitions of, subsidiaries in good faith and with that
degree of care that an ordinarily prudent individual in a like position
would use under similar circumstances.

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