New York Insurance Code § 7713

Miscellaneous provisions
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§ 7713. Miscellaneous provisions. (a) Nothing in this article shall be\nconstrued to reduce the liability for unpaid assessments of the insureds\nof an impaired or insolvent insurer operating under a plan with\nassessment liability.\n  (b) The corporation shall maintain records of all negotiations and\nmeetings in which the corporation or its representatives are involved to\ndiscuss the activities of the corporation in carrying out its powers and\nduties under section seven thousand seven hundred eight of this article,\nexcept to the extent otherwise provided by or pursuant to the plan of\noperation. Records of such negotiations or meetings shall be made public\nonly upon the termination of a liquidation, rehabilitation or\nconservation proceeding involving the impaired or insolvent insurer,\nupon the termination of the impairment or insolvency of the insurer, or\nupon the order of a court of competent jurisdiction.  Nothing in this\nsubsection shall limit the duty of the corporation to render a report of\nits activities under section seven thousand seven hundred fourteen of\nthis article.\n  (c) (1) During an article seventy-four rehabilitation proceeding,\nassets of the impaired or insolvent insurer which are determined by the\nsuperintendent to be currently available may be used to continue all\ncovered policies, and pay all contractual obligations, of the impaired\nor insolvent insurer that would otherwise be covered by the corporation\nunder section seven thousand seven hundred eight of this article. The\ncorporation shall, subsequent to the termination of the article\nseventy-four rehabilitation proceeding and within a reasonable time\nafter the commencement of a liquidation proceeding under article\nseventy-four of this chapter reimburse the estate of the impaired or\ninsolvent insurer for such portion of the amount of assets so used to\nthe extent necessary to pay class one, two and three claims pursuant to\nparagraph one, two or three of subsection (a) of section seven thousand\nfour hundred thirty-five of this chapter. The corporation shall have a\nclaim against the estate of the impaired or insolvent insurer equal to\nthe full amount of such reimbursement, consistent with the provisions of\nparagraph four of subsection (a) of section seven thousand four hundred\nthirty-five of this chapter.\n  (2) During an article seventy-four rehabilitation proceeding, assets\nof the impaired or insolvent insurer which are determined by the\nsuperintendent to be currently available may be used to continue covered\npolicies, and pay contractual obligations, of the impaired or insolvent\ninsurer, other than the covered policies and contractual obligations\nthat are covered by the corporation under section seven thousand seven\nhundred eight of this article, if a corporation, association or other\norganization which performs or will perform functions similar to those\nof the corporation enters into an agreement satisfactory to the\nsuperintendent prior to such use of such assets to repay the amount of\nsuch assets subsequent to the termination of the article seventy-four\nrehabilitation proceeding and within a reasonable time after the\ncommencement of a liquidation proceeding under article seventy-four of\nthis chapter.\n  (d) In addition to the duties and powers enumerated elsewhere in this\nchapter, and subject to the limitations and exclusions contained in this\nand other sections of this chapter, upon the commencement of a\nproceeding under article seventy-four of this chapter with respect to\nany impaired or insolvent domestic insurer, the superintendent may\nrequest and receive from the corporation, and the corporation shall lend\nto the superintendent upon such request, an amount not to exceed five\nhundred thousand dollars as determined by the superintendent to be\nnecessary on an emergency basis for use by the superintendent, as\nliquidator or rehabilitator, in the administration of the affairs of\nsuch impaired or insolven

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