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MTR. OF NATIONWIDE CO. v. SUPT. OF INS.

16 N.Y.2d 237 (1965)

In the Matter of Nationwide Life Insurance Company, Appellant, v. Superintendent of Insurance of the State of New York, Respondent.

Court of Appeals of the State of New York.

Decided October 28, 1965.

Attorney(s) appearing for the Case

Adolf A. Berle, Rudolf P. Berle, Thorold J. Deyrup and William Pozefsky for appellant.

Louis J. Lefkowitz, Attorney-General (Samuel A. Hirshowitz, Joel Lewittes and Michael Rauch of counsel), for respondent.

Chief Judge DESMOND and Judges DYE, FULD, VAN VOORHIS, BURKE and SCILEPPI concur.

BERGAN, J.

Petitioner is an Ohio stock legal reserve life insurance company admitted in 1939 to do business in New York. In 1940 it was given a special permit by the Superintendent of Insurance to issue participating policies in New York (Insurance Law, § 216, subd. 6, par. [b]).

This statute requires that such a "special permit" to issue participating policies shall be conditional on the company...

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