New York § 4611 - 4611Reserves and supporting assets
Full text of New York New York Consolidated Laws § 4611 — 4611Reserves and supporting assets, with citation guidance and answers to common questions.
§ 4611. 4611Reserves and supporting assets
§ 4611. Reserves and supporting assets. 1. An operator shall maintain reserve liabilities and supporting assets in an amount and for the purposes set forth in a regulation issued by the superintendent of financial services. Liquid assets must be maintained for the following reserve liabilities: a. Principal and interest payments and payments for taxes and insurance for up to twelve months; b. Total estimated operating costs for up to six months as set by the superintendent; c. Repairs and replacements for up to twelve months; and d. In addition, the amount of liquid assets must meet any cash flow requirements and conditions as set forth in a regulation. 2. The assets in support of reserve liabilities of subdivision one of this section shall meet quantitative and qualitative standards set forth in regulations issued by the superintendent.
Frequently Asked Questions About New York § 4611
What does New York Consolidated Laws § 4611 cover?
Section 4611 ("4611Reserves and supporting assets") 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 § 4611?
A common citation format is "New York Consolidated Laws § 4611" (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 § 4611 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.