§ 7315. Reorganization of domestic life insurance companies.\nNotwithstanding any other provision of this chapter, a domestic mutual\nlife insurance company which has a surplus of less than one million\ndollars as shown on its last filed annual statement may reorganize into\na domestic stock life insurance company in accordance with a plan of\nreorganization found by the superintendent to be fair and equitable.\n
Reorganization of domestic life insurance companies
N.Y. Insurance Law § 7315, under Conversion to Different Type of Insurer.
N.Y. Insurance Law § 7315