New York § 1412 - 1412Disposal or deduction of investments unlawfully acquired
Full text of New York New York Consolidated Laws § 1412 — 1412Disposal or deduction of investments unlawfully acquired, with citation guidance and answers to common questions.
§ 1412. 1412Disposal or deduction of investments unlawfully acquired
§ 1412. Disposal or deduction of investments unlawfully acquired. (a) Every domestic insurer shall forthwith dispose of any investment acquired in violation of the law in force at the date of acquisition. (b) In determining the financial condition of any such insurer, the value of any wholly ineligible investments, and the value of any investment in excess of any limitation prescribed in this chapter, shall be deducted as a non-admitted asset of such insurer.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 1412
What does New York Consolidated Laws § 1412 cover?
Section 1412 ("1412Disposal or deduction of investments unlawfully acquired") 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 § 1412?
A common citation format is "New York Consolidated Laws § 1412" (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 § 1412 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.