New York § 7609 - 7609Rights of funds against insolvent insurers
Full text of New York New York Consolidated Laws § 7609 — 7609Rights of funds against insolvent insurers, with citation guidance and answers to common questions.
§ 7609. 7609Rights of funds against insolvent insurers
§ 7609. Rights of funds against insolvent insurers. (a) The commissioner as custodian of each of the funds shall be entitled to a valid claim against an insurer which becomes insolvent or unable to meet its insurance obligations, or its liquidator, rehabilitator, conservator, receiver, or trustee in bankruptcy, in an amount equal to the liabilities, including loss adjustment expenses relating to such liabilities, of the insurer paid from the fund less the net payments paid into the fund by such insurer. (b) All moneys recovered through the prosecution of claims in the liquidation, rehabilitation or conservation proceeding shall be forthwith placed to the credit of the appropriate fund by the commissioner.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 7609
What does New York Consolidated Laws § 7609 cover?
Section 7609 ("7609Rights of funds against insolvent 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 § 7609?
A common citation format is "New York Consolidated Laws § 7609" (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 § 7609 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.