New York Laws
Article 66 - Co-Operative Property/casualty Insurance Companies
6613 - Limitation of Expenses; Co-Operative Property/casualty Insurance Companies.

(b) Management expenses shall include all the expenses of such
company, except expenses incurred in the investigation, adjustment and
settlement of claims, taxes, fees, expenses of examination, and taxes,
repairs, and expenses on real estate.
(c) This section shall not apply to any assessment corporation which
is limited to the business permitted under subsection (a) of section six
thousand six hundred five of this article. Furthermore, the
superintendent may grant an annual exemption from compliance with the
provisions of subsection (a) of this section to any co-operative
property/casualty insurance company which, in the next preceding
calendar year, had net premiums written of less than three million
dollars. A written application for such an exemption must be submitted
by the first day of June in the year for which the exemption is
requested and shall contain such information as is deemed necessary by
the superintendent.

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