§ 6707. Tax exemption; residual market participation exemption;
security funds. (a) Every nonprofit property/casualty insurance company
subject to the provisions of this article shall be exempt from any fees,
taxes, special ad valorem levies or assessments of any kind, including,
but not limited to, franchise taxes, sales taxes or other taxes, upon or
with respect to any property owned by it or under its jurisdiction,
control or supervision, or upon the uses thereof, or upon or with
respect to its activities or operations in furtherance of the powers
conferred upon it by this article, or upon or with respect to any
revenues or other income received by the nonprofit property/casualty
insurance company, except that every nonprofit property/casualty
insurance company licensed pursuant to this article shall be subject to
the assessment upon domestic insurers under section two hundred six of
the financial services law, the assessments upon insurance carriers
under sections one hundred fifty-one and two hundred twenty-eight of the
workers' compensation law and all special fund assessments upon
insurance carriers under the workers' compensation law.

(b) Every nonprofit property/casualty insurance company subject to the
provisions of this article shall be exempt from participation in the
plan pursuant to article fifty-three of this chapter, the association
pursuant to article fifty-four of this chapter and the association
pursuant to article fifty-five of this chapter.

(c) A nonprofit property/casualty insurance company and the contracts
it issues will be subject to the provisions of article seventy-six of
this chapter and article six-A of the workers' compensation law.