7506 - Companies excluded from article. - New York Statutes

§ 7506. Companies excluded from article. There is hereby excluded from the provisions of this article any life insurance company organized and operated, without profit to any private shareholder or individual, exclusively to aid and strengthen charitable, religious, missionary, educational or philanthropic institutions by issuing policies or contracts only to or for the benefit of such institutions, to individuals engaged in serving such institutions and to members of their immediate families.