New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter XI - Prepaid Legal Services Plans And Legal Services Insurance
Part 262 - Legal Services Insurance
Section 262.5 - Defense of criminal proceedings
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 262.5
Current through Register Vol. 46, No. 12, March 20, 2024
(a) No policy of legal services insurance may provide defense coverage in a criminal proceeding, except as provided in subdivision (b) of this section.
(b)
(1) For
the purposes of this subdivision, a corporation shall mean a corporation
subject to the provisions of Business Corporation Law, section
726, Not-for-Profit Corporation Law, section
726, or Banking Law, section
7023, or a corporation that, if it were a
New York corporation, would be subject to one of said sections.
(2) A directors and officers liability
insurance policy that provides indemnification for the acts of an officer or
director of a corporation, as such term is defined in paragraph (1) of this
subdivision, may provide legal services insurance coverage in a criminal
proceeding, to the extent permitted by the applicable corporate
statute.
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