New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 33 - Managing General Agents
Section 33.4 - Exemptions
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 33.4
Current through Register Vol. 46, No. 39, September 25, 2024
(a) The provisions of this Part shall not apply to:
(1) a person who is a member of the same
holding company system (as defined in section 1501[a][6] of the Insurance Law)
as the insurer;
(2) a person acting
as a U.S. manager of a licensed U.S. branch of an alien insurer (as defined in
section 107[44] of the Insurance Law); and
(3) the attorney-in-fact authorized by and
acting for the subscribers of a reciprocal insurer or inter-insurance exchange
under powers of attorney.
(b) Nothing contained in this Part shall exempt any person from any requirement to be licensed as an insurance agent, reinsurance intermediary or otherwise under the Insurance Law or from being subject to examination by the Department of Financial Services.
(c) No person shall be a manager in this State within the meaning of Insurance Law section 2101(g)(1) unless that person is an MGA and licensed as an insurance agent.
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