Chatlos v. MONY Life Insurance

Judgment, Supreme Court, New York County (Ira Gammerman, J.), entered June 7, 2001, in an action by policyholders challenging the validity of acts taken under Insurance Law § 7312 to convert defendant insurance company from a mutual life insurer to a stock life insurer, dismissing the complaint, unanimously affirmed, without costs.

Insofar as brought against the Superintendent of Insurance, plaintiffs’ claim, although brought in the form of a declaratory judgment action, merely challenges the Superintendent’s approval of the insurance company defendants’ demutualization plan as violative of…