Examples of NY DOI in a sentence
Since January 1, 2000, the Company and each Company Subsidiary has filed all material reports, registrations and statements, together with any material amendments required to be made with respect thereto, heretofore required to be filed with (i) the NY DOI, (ii) the CT DOI, (iii) the NY DOH, (iv) the CT DSS, (v) the CMS and (vi) any other Governmental or Regulatory Authority requiring the same.
Schedule 2.28 sets forth a true, accurate and complete list of all reports and correspondence regarding all Agency Audits, and all other audit reports prepared by the CMS, the NY DOI, the CT DOI, the NY DOH, the CT DSS or any other Governmental or Regulatory Authority relating to the operations or business of the Company or either Company Subsidiary, from each year (or part thereof) since January 1, 2000.
The Company shall deliver to Parent copies of all monthly financial reports of the type referenced in Section 2.8(c), as delivered by the Company to the NY DOI and/or the CT DOI after the date of this Agreement, within two Business Days of delivery to the NY DOI or the CT DOI, as applicable, together with a consolidated balance sheet, income statement and statement of cash flows for the Company.
The NY DOI shall not have advised SLD, formally or informally, that the NY DOI will not permit SLD to take reinsurance reserve credit for the business ceded to HLRUS pursuant to the SLD-HLRUS Reinsurance Agreement.
Additionally, it is the Plan Proponents' belief that in a liquidation scenario, the CT DOI and the NY DOI, or other applicable regulatory body, would seize control of the Runoff of TAC's subsidiaries.
TAC and Kenning, in consultation with the creditors and the Plan Proponents, have developed and submitted proposed Runoff plans for TARCO and InsCorp (as same may be amended, supplemented or otherwise modified from time to time, the "Runoff Plans") to the CT DOI and the NY DOI, and the Boards of Directors of TARCO, InsCorp and TAC for their approval.
At this time, although negotiations are ongoing, the Plan Proponents, TAC, TARCO and InsCorp are not certain that they will be able to reach agreement with the NY DOI and the CT DOI on the Runoff and the Employment Agreements, or that the conditions precedent to such Runoff Agreements will be satisfied.
In this regard, upon information and belief, on May 5, 2003, InsCorp entered into a "letter of understanding" with the New York State Insurance Department (the "NY DOI") and on January 9, 2004, InsCorp entered into a "Stipulation" with the NY DOI, under which, among other things, InsCorp is prohibited from paying any dividends, ordinary or extraordinary, without the prior written approval of the NY DOI.
The Plan provides InsCorp with an enhanced recovery in order to facilitate the Debtor's reorganization, facilitate the approval of the Runoff with the CT DOI and the NY DOI, as well as the global settlements embodied herein.
Any Claimant whose claim for benefits has been denied, in whole or in part, may, within 60 days of receipt of any adverse benefit determination, appeal such denial to the Committee.