New York § 7501 - 7501Purpose of article
Full text of New York New York Consolidated Laws § 7501 — 7501Purpose of article, with citation guidance and answers to common questions.
§ 7501. 7501Purpose of article
§ 7501. Purpose of article. The purpose of this article is to continue the life insurance guaranty fund, a fund arising from assessments upon domestic life insurance companies to be used for the promotion of the stability of such companies and the performance of their contractual obligations. In the judgment of the legislature, the foregoing objects and purposes are not capable of accomplishment by a corporation created under general laws, so the continuation of the non-profit corporation, "The Life Insurance Guaranty Corporation", is provided by this article.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 7501
What does New York Consolidated Laws § 7501 cover?
Section 7501 ("7501Purpose of article") 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 § 7501?
A common citation format is "New York Consolidated Laws § 7501" (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 § 7501 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.