New York Laws
Article 71 - Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers
7110 - Fees; Certification; Prohibitions; Penalty.

(b) No director, officer or member of any such company or of any
parent corporation or subsidiary insurer, except as fully expressed in
the agreement of consolidation or merger or for the acquisition of
assets or in the plan for acquisition of minority interests in a
subsidiary insurer, shall receive any fee, commission, other
compensation or valuable consideration, directly or indirectly, for in
any manner aiding, promoting or assisting in such consolidation, merger,
or acquisition of assets or minority interests.
(c) Any person violating the provisions of subsection (a) hereof or
knowingly making any false certificate or statement pursuant thereto,
shall be guilty of a felony.

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