Expands the definition of redomestication to include the transfer of a domestic company's corporate domicile from New York.

This bill amends the definition of redomestication in New York's insurance law to include the transfer of a domestic company's corporate domicile from New York. It outlines the process for such transfers, including filing requirements, maintaining existing policies, and continuing agents' appointments and licenses. The superintendent must approve the transfer unless it is not in the interest of policyholders. The bill takes effect immediately.

Expands the definition of redomestication to include the transfer of a domestic company's corporate domicile from New York.

This bill amends the definition of redomestication in New York's insurance law to include the transfer of a domestic company's corporate domicile from New York. It outlines the process for such transfers, including filing requirements, maintaining existing policies, and continuing agents' appointments and licenses. The superintendent must approve the transfer unless it is not in the interest of policyholders. The bill takes effect immediately.