6701 - Purpose; construction. - New York Statutes

§ 6701. Purpose; construction. (a) The purpose of this article is to provide for the organization and licensing of a nonprofit property/casualty insurance company that insures nonprofit organizations and that will qualify, and continue to qualify, as a "qualified charitable risk pool" as defined in subsection (n) of section 501 of the Internal Revenue Code. (b) This article shall be liberally construed to effect the purpose under subsection (a) of this section which shall constitute an aid and guide to interpretation.