New York Laws
Article 80 - Mutual Holding Company
8013 - Notice of Proposed Reorganization.

(b) Neither the receipt of such policy or contract nor the right to
receive such notice shall entitle such persons to vote on the proposed
plan of reorganization pursuant to section eight thousand eight of this
article or vest such persons with any other rights or entitlements
except as provided for in this article.
(c) Where, prior to the issuance of a policy or contract, the
reorganizing insurer provides the prospective policyholders with notice
of the pendency of the proposed reorganization and of the effect
thereof, which notice has been approved for such purpose by the
superintendent, then, unless the laws of the policyholder's domiciliary
state otherwise require, such policyholders shall not have the foregoing
rights of rescission and refund.

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