Current through 2024 NY Law Chapter 553
Section 96 - Definitions; interpretation of article1.When used in this article, the following terms shall mean and include the following: (a) "Organization"-any insurer, rating organization, service or advisory organization, joint underwriting association, welfare or pension fund, which is subject, in whole or in part, to the insurance law of this state.(b) "Domestic organization"-any "organization" which is domiciled in this state, including, insofar as the provisions of this article may appropriately apply thereto, any welfare or pension fund or United States branch of an alien insurer.(c) "Charter"-the certificate of organization or incorporation or special law incorporating a corporation together with its by-laws, or the agreement establishing a fund or association together with its constitution and by-laws.(d) "Acute emergency"-a period in which, by reason of loss of life, epidemic disease, destruction or damage of property, contamination of property by radiological, chemical or bacteriological means, or disruption of the means of transportation and communication, resulting from an attack, as defined in subdivision two of section three of this chapter, it is impossible or impracticable for the business of insurance in this state to be conducted in strict accord with the provisions of law or "charters" applicable thereto.(e) "Board"-the board of directors, board of trustees, committee or similar body having control of the affairs of an "organization."(f) "Director"-a director, trustee, or member of a "board".(g) "Acting director"-an acting "director" elected or appointed in accordance with this article.(h) "Officer"-an officer of a "domestic organization".(i) "Acting officer"-an acting "officer" appointed in accordance with this article.(j) "Quorum"-the minimum number of "directors" required by charter and law other than this article, to be present for valid action to be taken at a meeting of a "board" with respect to each particular item of business which may come before such meeting.(k) "Superintendent"-the superintendent of financial services or person duly designated to exercise the powers of that office during an "acute emergency".2.This article does not, and shall not be construed to, limit the powers of any organization or permit or require any organization which is not domiciled in this state or any branch, office, or agency of such organization or the directors, officers, members, policyholders or stockholders of any such organization to act, or fail to act, in such fashion as would violate the laws of the jurisdiction wherein such organization has its domicile.N.Y. Defense Emergency Act 1951 Law § 96