§ 1715. Valuation of shares of subsidiaries. In determining the financial condition of a parent corporation, all stock of its subsidiaries (except subsidiaries acquired or held under section four thousand two hundred forty of this chapter) shall be valued in accordance with subsections (c), (f) and (g) of section one thousand four hundred fourteen of this chapter. Stock of subsidiaries acquired or held under section four thousand two hundred forty of this chapter shall be valued as required by section four thousand two hundred forty of this chapter.

Terms Used In N.Y. Insurance Law 1715

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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