New York § 7818 - 7818Nonconforming contracts
Full text of New York New York Consolidated Laws § 7818 — 7818Nonconforming contracts, with citation guidance and answers to common questions.
§ 7818. 7818Nonconforming contracts
§ 7818. Nonconforming contracts. (a) Except as otherwise specifically provided in this chapter, any life settlement contract subject to this chapter that is in violation of any of the provisions of this chapter shall be valid and binding upon the life settlement provider, but in all respects in which the contract's provisions are in violation of the requirements or prohibitions of this chapter it shall be enforceable as if it conformed with such requirements or prohibitions. (b) In any action to recover under the provisions of any life settlement contract that the superintendent is authorized by this chapter to approve, if in the superintendent's opinion the provisions of this chapter are more favorable to owners, the court shall enforce such contract as if its provisions were the same as those specified in this chapter unless the court finds that the actual provisions of the contract were more favorable to owners at the date when the contract was entered into.
Frequently Asked Questions About New York § 7818
What does New York Consolidated Laws § 7818 cover?
Section 7818 ("7818Nonconforming contracts") 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 § 7818?
A common citation format is "New York Consolidated Laws § 7818" (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 § 7818 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.