New York § 1219 - 1219Misconduct by directors; insolvency
Full text of New York New York Consolidated Laws § 1219 — 1219Misconduct by directors; insolvency, with citation guidance and answers to common questions.
§ 1219. 1219Misconduct by directors; insolvency
§ 1219. Misconduct by directors; insolvency. (a) Every director of an insurance corporation who: (1) in case of the fraudulent insolvency of such corporation, shall have participated in such fraud, or (2) as such director, either wilfully does any act expressly forbidden by statute, or wilfully omits to perform any duty imposed upon him by statute, shall be guilty of a misdemeanor, unless otherwise prescribed by law. (b) The insolvency of an insurance corporation is deemed fraudulent unless its affairs appear upon investigation to have been administered fairly, legally and with the same care and diligence that agents receiving a compensation for their services are bound, by law, to observe.
Frequently Asked Questions About New York § 1219
What does New York Consolidated Laws § 1219 cover?
Section 1219 ("1219Misconduct by directors; insolvency") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 1219?
A common citation format is "New York Consolidated Laws § 1219" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 1219 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.