§ 308. Judicial review of orders, regulations and decisions of
superintendent. (a) Notwithstanding the specific enumerations of the
right to judicial review in this chapter, the insurance law or the
banking law, any order, regulation or decision of the superintendent is
declared to be subject to judicial review in a proceeding under article
seventy-eight of the civil practice law and rules, provided that nothing
in this section or article seventy-eight of the civil practice law and
rules shall affect the time period provided in the banking law or the
insurance law for commencing such proceeding.

(b) Except as provided in section two thousand one hundred twenty-four
of the insurance law, the commencement of such proceeding shall not
affect the enforcement or validity of the superintendent's order,
regulation or decision under review unless the court shall determine,
after a preliminary hearing of which the superintendent is notified at
least forty-eight hours in advance, that a stay of enforcement pending
the proceeding or until further direction of the court will not unduly
injure the interests of the people of the state, in which case a stay of
execution may be granted.