2317 - Joint underwriting or joint reinsurance. - New York Statutes

§ 2317. Joint underwriting or joint reinsurance. (a) Every group, association or other organization of insurers which engages in joint underwriting or joint reinsurance shall be subject to regulation with respect thereto as herein provided, subject, however, with respect to joint underwriting, to all other applicable provisions of this article and, with respect to joint reinsurance, to subsection (e) of section two thousand three hundred twenty-one and section two thousand three hundred twenty-two of this article. (b) If, after hearing, the superintendent finds that any activity or practice of any such group, association or other organization is unfair or unreasonable or otherwise inconsistent with the provisions of this article, he may issue a written order specifying in what respects such activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this article, and requiring the discontinuance of such activity or practice. (c) Every such group, association, or other organization of insurers shall be subject to examination by the superintendent as often as he may deem it expedient.