Legal Opinion
New York State Ass'n of Life Underwriters, Inc. v. New York State Banking Department
New York Court of Appeals
Decided March 30, 1994PublishedCited by 39 opinions
1Opinion of the Court
OPINION OF THE COURT
Smith, J.
The issues in this case are (1) whether the State Banking Law authorizes State-chartered commercial banks to purchase and sell annuities, either directly or through a subsidiary, and *358(2) whether annuities are insurance and, thus, within the express statutory proscription of sales by commercial banks.
On December 20, 1989 and February 12, 1990, pursuant to requests by certain national banks, the Federal Office of the Comptroller of the Currency (OCC) issued Interpretive Letters No. 494 and No. 499, respectively, stating, in essence, that 12 USC § 24 (Seventh)1…
2Cases cited17 opinions
- Howard v. WymanNew York Court of Appeals · 1971
- Kurcsics v. Merchants Mutual InsuranceNew York Court of Appeals · 1980
- Curtis and Others v. . LeavittNew York Court of Appeals · 1857
- Flanagan v. Mount Eden General HospitalNew York Court of Appeals · 1969
- Salvati v. EimickeNew York Court of Appeals · 1988
12 more not listed; retrieve them via the Exa API.
3Cited by39 opinions
- Nationsbank of North Carolina, N. A. v. Variable Annuity Life InsuranceSupreme Court of the United States · 1995
- Spagnola v. Chubb Corp.Court of Appeals for the Second Circuit · 2009
- Gaines v. New York State Division of Housing & Community RenewalNew York Court of Appeals · 1997
- The People v. Alexis OcasioNew York Court of Appeals · 2016
- MATTER OF SCOTTO v. DinkinsNew York Court of Appeals · 1995
34 more not listed; retrieve them via the Exa API.