New York § 1319 - 1319Deposits by foreign insurers
Full text of New York New York Consolidated Laws § 1319 — 1319Deposits by foreign insurers, with citation guidance and answers to common questions.
§ 1319. 1319Deposits by foreign insurers
§ 1319. Deposits by foreign insurers. (a) Every foreign insurer doing business in this state shall keep on deposit with the superintendent, or with the state officer of its home state designated by law for such purpose, the same amount of securities which a like domestic insurer transacting the same kinds of insurance is required to deposit with the superintendent. (b) Such securities shall be of the same character required or permitted by section one thousand three hundred eighteen of this article, except that such an insurer may, in the discretion of the superintendent, receive credit for a deposit with its home state consisting of bonds and mortgages, or deeds of trust, on improved unencumbered real property located in its home state or in this state worth fifty per centum more than the amount loaned thereon. (c) The superintendent shall be furnished with the certificate of such state officer of the insurer's home state under his hand and official seal that he holds such securities in trust and on deposit for the benefit of all policyholders or all the policyholders and creditors of such insurer. Such certificate shall list the securities so held and their par or face value.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 1319
What does New York Consolidated Laws § 1319 cover?
Section 1319 ("1319Deposits by foreign insurers") 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 § 1319?
A common citation format is "New York Consolidated Laws § 1319" (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 § 1319 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.