New York § 1318 - 1318Deposits, securities eligible
Full text of New York New York Consolidated Laws § 1318 — 1318Deposits, securities eligible, with citation guidance and answers to common questions.
§ 1318. 1318Deposits, securities eligible
§ 1318. Deposits, securities eligible. (a) Except as otherwise provided in this chapter, every deposit made with the superintendent shall be in the securities specified in paragraphs one and two of subsection (b) of section one thousand four hundred two of this chapter, estimated at an amount not exceeding their current market value, but their total par value shall not be less than the amount required. (b) Such deposit made by a foreign insurer may be in like securities of its home state if similar domestic insurers doing business in such state are permitted to deposit therein like securities of this state. (c) If the aggregate market value of the securities on deposit shall fall below the required amount, the superintendent may require the depositing insurer to deposit sufficient additional securities of like character.
Frequently Asked Questions About New York § 1318
What does New York Consolidated Laws § 1318 cover?
Section 1318 ("1318Deposits, securities eligible") 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 § 1318?
A common citation format is "New York Consolidated Laws § 1318" (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 § 1318 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.