New York Insurance Code § 1703

Standard of care for investments in subsidiaries
Open in Lexace · Ask the AI about this section
§ 1703. Standard of care for investments in subsidiaries. In addition\nto other requirements of law (statutory or otherwise) that affect the\nstandard of care of directors and officers of corporations, directors\nand officers shall perform their duties in connection with investments\nin, or other acquisitions of, subsidiaries in good faith and with that\ndegree of care that an ordinarily prudent individual in a like position\nwould use under similar circumstances.\n

‹ Prev All New York sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.