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 262.6 - Directors and officers insurance limitations
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 262.6
Current through Register Vol. 46, No. 12, March 20, 2024
A directors and officers liability insurance policy that provides coverage for the acts of an officer or director of a corporation, as such term is defined in section 262.5(b)(1) of this Part, shall not provide coverage where indemnification is not permitted pursuant to the Business Corporation Law, Not-for-Profit Corporation Law, Banking Law or other applicable corporate statute.
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