N.Y. Public Health Law § 4611
Reserves and supporting assets
New York · New York Public Health Law · Status: effective · Effective 2026-02-27
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- Citation
- N.Y. Public Health Law § 4611, Reserves and supporting assets, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1123375
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Full text
§ 4611. Reserves and supporting assets. 1. An operator shall maintain
reserve liabilities and supporting assets in an amount and for the
purposes set forth in a regulation issued by the superintendent of
financial services. Liquid assets must be maintained for the following
reserve liabilities:
a. Principal and interest payments and payments for taxes and
insurance for up to twelve months;
b. Total estimated operating costs for up to six months as set by the
superintendent;
c. Repairs and replacements for up to twelve months; and
d. In addition, the amount of liquid assets must meet any cash flow
requirements and conditions as set forth in a regulation.
2. The assets in support of reserve liabilities of subdivision one of
this section shall meet quantitative and qualitative standards set forth
in regulations issued by the superintendent.