11 CRR-NY 33.4NY-CRR
11 CRR-NY 33.4
11 CRR-NY 33.4
33.4 Exemptions.
(a) The provisions of this Part shall not apply to:
(1) a person who is a member of the same holding company system (as defined in section 1501[a][6] of the Insurance Law) as the insurer;
(2) a person acting as a U.S. manager of a licensed U.S. branch of an alien insurer (as defined in section 107[44] of the Insurance Law); and
(3) the attorney-in-fact authorized by and acting for the subscribers of a reciprocal insurer or inter-insurance exchange under powers of attorney.
(b) Nothing contained in this Part shall exempt any person from any requirement to be licensed as an insurance agent, reinsurance intermediary or otherwise under the Insurance Law or from being subject to examination by the Department of Financial Services.
(c) No person shall be a manager in this State within the meaning of Insurance Law section 2101(g)(1) unless that person is an MGA and licensed as an insurance agent.
11 CRR-NY 33.4
Current through July 31, 2021
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