New York § 4605 - 4605Reinsurance
Full text of New York New York Consolidated Laws § 4605 — 4605Reinsurance, with citation guidance and answers to common questions.
§ 4605. 4605Reinsurance
§ 4605. Reinsurance. (a) All or any part of the pension benefits of a system may be reinsured in an insurance company authorized to insure such risks in this state, as may be provided for in the by-laws or declaration of trust of the retirement system. (b) The reinsurance contract may be terminated by agreement between the reinsurer and the ceding retirement system or a successor and the assets supporting such agreement may be transferred to such system or its successor in one sum or over a period of years in accordance with terms and conditions approved by the superintendent. In such event, the funds transferred in one sum or the present value of sums to be transferred over a period of years shall become an admitted asset of such system or its successor.
Frequently Asked Questions About New York § 4605
What does New York Consolidated Laws § 4605 cover?
Section 4605 ("4605Reinsurance") 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 § 4605?
A common citation format is "New York Consolidated Laws § 4605" (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 § 4605 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.