State Codes and Statutes

Statutes > New-york > Isc > Article-71 > 7113

§  7113. Transfer of deposits to surviving or consolidated company. If  any  constituent  company  in  a  merger  or  consolidation  under   the  provisions of this article shall have on deposit with the superintendent  securities   held   for  the  benefit  and  protection  of  all  of  its  policyholders or policyholders and creditors within the  United  States,  the  superintendent is authorized, upon the completion of such merger or  consolidation, to transfer residuary interest in such  deposit  of  such  constituent  company  to  the  surviving or consolidated company, and to  release such deposit or any part thereof if no longer required  of  such  surviving or consolidated company under the provisions of this chapter.

State Codes and Statutes

Statutes > New-york > Isc > Article-71 > 7113

§  7113. Transfer of deposits to surviving or consolidated company. If  any  constituent  company  in  a  merger  or  consolidation  under   the  provisions of this article shall have on deposit with the superintendent  securities   held   for  the  benefit  and  protection  of  all  of  its  policyholders or policyholders and creditors within the  United  States,  the  superintendent is authorized, upon the completion of such merger or  consolidation, to transfer residuary interest in such  deposit  of  such  constituent  company  to  the  surviving or consolidated company, and to  release such deposit or any part thereof if no longer required  of  such  surviving or consolidated company under the provisions of this chapter.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Isc > Article-71 > 7113

§  7113. Transfer of deposits to surviving or consolidated company. If  any  constituent  company  in  a  merger  or  consolidation  under   the  provisions of this article shall have on deposit with the superintendent  securities   held   for  the  benefit  and  protection  of  all  of  its  policyholders or policyholders and creditors within the  United  States,  the  superintendent is authorized, upon the completion of such merger or  consolidation, to transfer residuary interest in such  deposit  of  such  constituent  company  to  the  surviving or consolidated company, and to  release such deposit or any part thereof if no longer required  of  such  surviving or consolidated company under the provisions of this chapter.