(b) Notwithstanding the provisions of sections one thousand two
hundred nine and one thousand two hundred eleven of this chapter and
section four thousand one hundred fourteen of this article, any such
domestic mutual insurance company of the kind specified in subsection
(a) hereof, may continue to issue both participating and
non-participating policies or contracts of insurance, in accordance with
its charter, and may continue to exercise its existing charter powers as
to the qualification of its members and trustees and as to the election
and powers of its board of trustees.
Structure New York Laws
Article 41 - Property/casualty Insurance Companies
4103 - Stock Companies; Financial Requirements.
4105 - Domestic Stock Companies; Declaration and Payment of Dividends.
4106 - Stock Companies; Participating Policies.
4107 - Domestic Mutual Companies; Financial and Other Requirements.
4108 - Foreign and Alien Mutual Companies; Licensing.
4109 - Mutual Companies; Special Contingent Surplus.
4110 - Domestic Mutual Companies; Expense Limits.
4111 - Mutual Companies; Assessments.
4112 - Mutual Companies; Protection Against Assessments.
4113 - Mutual Companies; Non-Assessable Policies.
4114 - Mutual Companies; Dividends.
4115 - Certain Mutual Companies Existing Prior to January First, Nineteen Hundred Forty.
4116 - Domestic Mutual Companies; Voting Rights of Members.
4117 - Loss and Loss Expense Reserves.
4118 - Limitation of Risks; Fidelity and Surety; Fire; Hospital Mutuals.
4119 - Foreign and Alien Companies; License Qualification.
4121 - Security May Be Required From Banking Officers and Employees.