New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IX - Unfair Trade Practices
Part 226 - Unclaimed Life Insurance Benefits And Policy Identification
Section 226.2 - Applicability
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 226.2
Current through Register Vol. 46, No. 39, September 25, 2024
(a)
(1) This Part shall apply to a policy that
is:
(i) issued by a domestic insurer and any
account established under or as a result of such policy; or
(ii) delivered or issued for delivery in this
State by an authorized foreign insurer and any account established under or as
a result of such policy.
(b) Notwithstanding subdivision (a) of this section, with respect to a policy delivered or issued for delivery outside this State, a domestic insurer may, in lieu of the requirements of this Part, implement procedures that meet the minimum requirements of the State in which the insurer delivered or issued the policy, provided that the superintendent determines that such other requirements are no less favorable to the policyowner and beneficiary than those required by this Part.
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