# N.Y. ISC Law § 1507: Management of controlled insurers

> New York · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1507

## Section

- **Citation:** N.Y. ISC Law § 1507
- **Heading:** Management of controlled insurers
- **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 1507

## Text

§ 1507. Management of controlled insurers. (a) Notwithstanding the\ncontrol of an authorized insurer by any person, the insurer's officers\nand directors shall not thereby be relieved of any obligation or\nliability to which they would otherwise be subject by law, and the\ninsurer shall be managed so as to assure its separate operating identity\nconsistent with this chapter.\n (b) Nothing herein shall preclude an authorized insurer from having or\nsharing a common management or cooperative or joint use of personnel,\nproperty or services with one or more other persons under arrangements\nmeeting the standards of subsection (a) of section one thousand five\nhundred five 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)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A15_S1507. Check the current official text before relying on it. Not legal advice.