ยง 7417. Commencement of a proceeding. The superintendent represented
by the attorney general shall commence any proceeding under this article
by an application to the supreme court, in the judicial district in
which the principal office of the insurer is located, for an order
directing such insurer to show cause why the superintendent should not
have the requested relief. On the return of such order, and after a full
hearing, which shall be held without delay, such court shall either deny
the application or grant it together with such other relief as the
nature of the case and the interests of policyholders, creditors,
shareholders, members, or the public may require.
Structure New York Laws
Article 74 - Rehabilitation, Liquidation, Conservation and Dissolution of Insurers
7401 - Application of Article; Definitions.
7402 - Grounds for Rehabilitation of Domestic Insurer.
7404 - Grounds for Liquidation.
7405 - Order of Liquidation; Rights and Liabilities.
7406 - Grounds for Conservation of Assets of Foreign or Alien Insurer.
7407 - Order of Conservation or Ancillary Liquidation of a Foreign or Alien Insurer.
7408 - Uniform Insurers Liquidation Act; Title; Definitions.
7409 - Conduct of Delinquency Proceedings Against Insurers Domiciled in This State.
7410 - Conduct of Delinquency Proceedings Against Insurers Not Domiciled in This State.
7413 - Priority of Preferred Claims, Special Deposit Claims and Secured Claims.
7414 - Attachment and Garnishment of Assets.
7415 - Uniformity of Interpretation.
7416 - Grounds for Dissolution of Domestic Insurer.
7417 - Commencement of a Proceeding.
7418 - Service of Order to Show Cause.
7421 - Removal of Proceedings.
7422 - Appointment of Deputies; Employment of Assistants.
7423 - Exemption From Filing Fees.
7424 - Deposit of Monies Collected; Preference.
7428 - Disposition of Assets and Compromise of Claims.
7429 - Borrowing on the Pledge of Assets.
7430 - Levy of Assessments; Determination of Liability of Members.
7431 - Determination of Liability of Members for Other Indebtedness.
7432 - Adjudication of Insolvency of Insurer; Time to File Claims.
7433 - Proof and Allowance of Claims.
7433-A - Loan to Workers' Compensation Security Fund.
7434 - Distribution of Assets.
7435 - Distribution for Life Insurers.