New York Laws
Article 67 - Nonprofit Property/casualty Insurance Companies
6706 - Applicability of Other Provisions of This Chapter.

(b) Except as otherwise provided in this article, where inconsistent
with this article, or where the context otherwise requires, all of the
provisions of this chapter and the rules and regulations of the
superintendent, relating to all insurers and those relating to
reciprocal insurers transacting the same kind or kinds of insurance
shall be applicable to a nonprofit property/casualty insurance company
organized as a reciprocal insurer pursuant to article sixty-one of this
chapter and licensed pursuant to subsection (c) of section six thousand
seven hundred four of this article. Where any of such provisions of law
refer to a corporation, company or insurer, such references, when read
in connection with and applicable to this article, shall mean such a
nonprofit property/casualty insurance company.
(c) (1) Every nonprofit property/casualty insurance company shall be
subject to liquidation, dissolution or rehabilitation pursuant to the
provisions of article seventy-four of this chapter, and such proceeding
shall be under the supervision of the superintendent, who shall have
such powers granted pursuant to the provisions of such article as are
applicable to domestic insurance companies.
(2) Articles ten, eleven and twelve of the not-for-profit corporation
law shall not apply to nonprofit property/casualty insurance companies.

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