§ 8013. Notice of proposed reorganization. (a) In addition to the
notices given pursuant to section eight thousand eight of this article,
the reorganizing insurer shall give written notice of the pendency of
the proposed reorganization and of the effect thereof to all persons to
whom the reorganizing insurer delivers policies or contracts which are
issued after the adoption date and before the plan takes effect or is
withdrawn, sent by mail or electronic transmission to the last known
mailing or electronic addresses of such policyholders as shown on the
records of the reorganizing insurer. Except as otherwise provided in
this section, such persons shall have the right, unless the laws of
their domiciliary state provide otherwise, to rescind such policies or
contracts, and to be refunded any amounts paid with respect thereto, by
written notice to such insurer or its agent given within ten days of
their receipt of the aforesaid notice given by such insurer.

(b) Neither the receipt of such policy or contract nor the right to
receive such notice shall entitle such persons to vote on the proposed
plan of reorganization pursuant to section eight thousand eight of this
article or vest such persons with any other rights or entitlements
except as provided for in this article.

(c) Where, prior to the issuance of a policy or contract, the
reorganizing insurer provides the prospective policyholders with notice
of the pendency of the proposed reorganization and of the effect
thereof, which notice has been approved for such purpose by the
superintendent, then, unless the laws of the policyholder's domiciliary
state otherwise require, such policyholders shall not have the foregoing
rights of rescission and refund.