State Codes and Statutes

Statutes > New-york > Isc > Article-15 > 1510

§  1510.  Violations;  penalties; jurisdiction over non-domiciliaries.  (a) In addition to any other penalty provided by law, the superintendent  may, upon the wilful failure of any  person  within  a  holding  company  system   to  comply  with  this  article  or  any  regulation  or  order  promulgated hereunder:    (1) proceed under article seventy-four of this chapter with respect to  a domestic insurer within the holding company system;    (2) revoke or refuse to renew the authority to  do  business  in  this  state  of  an  authorized  foreign  or  alien insurer within the holding  company system or refuse to issue such authority to any other insurer in  the system;    (3) request the attorney general to commence  a  proceeding  utilizing  the  procedures  of  sections  seven thousand four hundred seventeen and  seven  thousand  four  hundred  eighteen  of  this  chapter  to  enforce  compliance or, where appropriate, for an order directing the termination  of control of a domestic insurer; or    (4)  direct  that,  in  addition to any other penalty provided by law,  such person forfeit to the people of this state a sum not exceeding five  hundred dollars for a first violation  and  two  thousand  five  hundred  dollars  for  any  subsequent violation. An additional sum not exceeding  two thousand five hundred dollars shall be imposed for each month during  which any such violation shall continue.    (b) If the superintendent finds after notice  and  opportunity  to  be  heard  that  any domestic controlled insurer or any policyholder thereof  has suffered any loss or damage because of the wilful violation of  this  article,  or  of  any  regulation or order promulgated hereunder, by any  person within the insurer's holding company system, he may  request  the  attorney general to maintain a civil action in the name of the people of  the  state  or  intervene  in  an  action brought by or on behalf of the  insurer or policyholder for the recovery of compensatory damages for the  benefit of the insurer or policyholder or for other appropriate relief.    (c) As to any cause of action enumerated in this section a  court  may  exercise  personal jurisdiction over any non-domiciliary who controls or  is an officer or director of a person who controls a domestic insurer.

State Codes and Statutes

Statutes > New-york > Isc > Article-15 > 1510

§  1510.  Violations;  penalties; jurisdiction over non-domiciliaries.  (a) In addition to any other penalty provided by law, the superintendent  may, upon the wilful failure of any  person  within  a  holding  company  system   to  comply  with  this  article  or  any  regulation  or  order  promulgated hereunder:    (1) proceed under article seventy-four of this chapter with respect to  a domestic insurer within the holding company system;    (2) revoke or refuse to renew the authority to  do  business  in  this  state  of  an  authorized  foreign  or  alien insurer within the holding  company system or refuse to issue such authority to any other insurer in  the system;    (3) request the attorney general to commence  a  proceeding  utilizing  the  procedures  of  sections  seven thousand four hundred seventeen and  seven  thousand  four  hundred  eighteen  of  this  chapter  to  enforce  compliance or, where appropriate, for an order directing the termination  of control of a domestic insurer; or    (4)  direct  that,  in  addition to any other penalty provided by law,  such person forfeit to the people of this state a sum not exceeding five  hundred dollars for a first violation  and  two  thousand  five  hundred  dollars  for  any  subsequent violation. An additional sum not exceeding  two thousand five hundred dollars shall be imposed for each month during  which any such violation shall continue.    (b) If the superintendent finds after notice  and  opportunity  to  be  heard  that  any domestic controlled insurer or any policyholder thereof  has suffered any loss or damage because of the wilful violation of  this  article,  or  of  any  regulation or order promulgated hereunder, by any  person within the insurer's holding company system, he may  request  the  attorney general to maintain a civil action in the name of the people of  the  state  or  intervene  in  an  action brought by or on behalf of the  insurer or policyholder for the recovery of compensatory damages for the  benefit of the insurer or policyholder or for other appropriate relief.    (c) As to any cause of action enumerated in this section a  court  may  exercise  personal jurisdiction over any non-domiciliary who controls or  is an officer or director of a person who controls a domestic insurer.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Isc > Article-15 > 1510

§  1510.  Violations;  penalties; jurisdiction over non-domiciliaries.  (a) In addition to any other penalty provided by law, the superintendent  may, upon the wilful failure of any  person  within  a  holding  company  system   to  comply  with  this  article  or  any  regulation  or  order  promulgated hereunder:    (1) proceed under article seventy-four of this chapter with respect to  a domestic insurer within the holding company system;    (2) revoke or refuse to renew the authority to  do  business  in  this  state  of  an  authorized  foreign  or  alien insurer within the holding  company system or refuse to issue such authority to any other insurer in  the system;    (3) request the attorney general to commence  a  proceeding  utilizing  the  procedures  of  sections  seven thousand four hundred seventeen and  seven  thousand  four  hundred  eighteen  of  this  chapter  to  enforce  compliance or, where appropriate, for an order directing the termination  of control of a domestic insurer; or    (4)  direct  that,  in  addition to any other penalty provided by law,  such person forfeit to the people of this state a sum not exceeding five  hundred dollars for a first violation  and  two  thousand  five  hundred  dollars  for  any  subsequent violation. An additional sum not exceeding  two thousand five hundred dollars shall be imposed for each month during  which any such violation shall continue.    (b) If the superintendent finds after notice  and  opportunity  to  be  heard  that  any domestic controlled insurer or any policyholder thereof  has suffered any loss or damage because of the wilful violation of  this  article,  or  of  any  regulation or order promulgated hereunder, by any  person within the insurer's holding company system, he may  request  the  attorney general to maintain a civil action in the name of the people of  the  state  or  intervene  in  an  action brought by or on behalf of the  insurer or policyholder for the recovery of compensatory damages for the  benefit of the insurer or policyholder or for other appropriate relief.    (c) As to any cause of action enumerated in this section a  court  may  exercise  personal jurisdiction over any non-domiciliary who controls or  is an officer or director of a person who controls a domestic insurer.