N.Y. Comp. Codes R. & Regs. tit. 11 § 87.1
Current through Register Vol. 46, No. 45, November 2, 2024
(a) The name of any proposed domestic insurance corporation, the name of any foreign or alien insurer seeking to be licensed in this State, and the proposed name of any insurer seeking to change its name shall be submitted to the Office of General Counsel, New York State Insurance Department, One Commerce Plaza, Albany, NY 12257.(b) There shall be paid to the Superintendent of Insurance, at the time of submittal, a processing fee of $25 for each proposed name submitted for approval. This fee is a nonrefundable reimbursement of the cost of the Insurance Department for such processing.(c) In the event a proposed name is disapproved by the Insurance Department, one substitute name may be submitted for approval without an additional processing fee.(d) In the event a proposed name is approved by the Insurance Department, it shall be reserved for the exclusive use of the prospective domestic corporation or foreign or alien insurer for a period of six months upon a payment of a fee of $25.(e) Each additional six-month extension of the reservation, up to the maximum of three extensions, will require an additional $25 fee. No extensions shall be considered beyond two years from the date of the initial approval of the proposed name.N.Y. Comp. Codes R. & Regs. Tit. 11 § 87.1