New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter A - Rules of General Application
Part 81 - Subsidiaries Of Insurance Companies
Subpart 81-2 - Subsidiaries Of Life Insurance Companies, Retirement Systems And Article 43 Corporations
Section 81-2.3 - Preliminary information report for the investment in or acquisition of an institution

Universal Citation: 11 NY Comp Codes Rules and Regs § 81-2.3

Current through Register Vol. 46, No. 39, September 25, 2024

Every domestic life insurer and every domestic retirement system subject to article 46 of the Insurance Law which, after the effective date of this Subpart:

(a) invests in or acquires, directly or indirectly, 10 percent or more of the voting securities of any institution, or subsequently invests in or acquires additional increments of 10 percent of more of the voting securities of such institution; or

(b) acquires, directly or indirectly, control of any institution shall file a preliminary information report on form PIR (see Appendix 22, infra) with the superintendent within 30 days of such investment or acquisition.

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