# N.Y. ISC Law § 1502: Exemptions

> New York · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1502

## Section

- **Citation:** N.Y. ISC Law § 1502
- **Heading:** Exemptions
- **Jurisdiction:** New York
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** New York Code / Act ISC / Article 15 / Section 1502

## Text

§ 1502. Exemptions. (a) Notwithstanding any other provision of this\narticle the following shall not be deemed holding companies:\n (1) authorized insurers, including alien insurers transacting business\nin this state through United States branches, or their subsidiaries; or\n (2) the United States, a state or any political subdivision, agency or\ninstrumentality thereof, or any corporation wholly owned directly or\nindirectly by one or more of the foregoing.\n (b) The superintendent may conditionally or unconditionally exempt any\nspecified person or class of persons from any obligation or liability\nunder this article, if and to the extent he finds the exemption\nnecessary or appropriate in the public interest or not adverse to the\ninterests of policyholders or shareholders and consistent with the\npurposes of this article.\n

## Nearby sections

- [N.Y. ISC Law § 1501 Definitions; determinations](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1501.md)
- [N.Y. ISC Law § 1502 Exemptions](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1502.md)
- [N.Y. ISC Law § 1503 Registration](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1503.md)
- [N.Y. ISC Law § 1504 Reporting; examination; publication](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1504.md)
- [N.Y. ISC Law § 1505 Transactions within a holding company system affecting controlled insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1505.md)
- [N.Y. ISC Law § 1506 Acquisition or retention of control of insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1506.md)
- [N.Y. ISC Law § 1507 Management of controlled insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1507.md)
- [N.Y. ISC Law § 1508 Acceptance of reports filed with government agencies](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1508.md)
- [N.Y. ISC Law § 1509 Prohibition of indirect action](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1509.md)
- [N.Y. ISC Law § 1510 Violations; penalties; jurisdiction over non-domiciliaries](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1510.md)
- [N.Y. ISC Law § 1511 Expenses for group-wide supervision](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1511.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1502. Check the current official text before relying on it. Not legal advice.