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The Laws of New York
Consolidated Laws of New York
CHAPTER 28
Insurance
ARTICLE 14
Investments
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SECTION 1411
Authorization of, and restrictions on, investments
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ARTICLE 14
Investments
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SECTION 1413
Investments of foreign and alien insurers
This entry was published on 2014-09-22
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SECTION 1412
Disposal or deduction of investments unlawfully acquired
Insurance (ISC) CHAPTER 28, ARTICLE 14
§ 1412. Disposal or deduction of investments unlawfully acquired. (a)
Every domestic insurer shall forthwith dispose of any investment
acquired in violation of the law in force at the date of acquisition.

(b) In determining the financial condition of any such insurer, the
value of any wholly ineligible investments, and the value of any
investment in excess of any limitation prescribed in this chapter, shall
be deducted as a non-admitted asset of such insurer.