NY BANK § 577. Interpretation of article

This article does not affect:  (1) the inclusion of amounts for insurance in retail instalment contracts or obligations in accordance with the motor vehicle retail instalment sales act  or the retail instalment sales act;  (2) the inclusion of amounts for insurance in retail lease agreements in accordance with the motor vehicle retail leasing act;  or (3) the making of loans for the purpose of financing insurance premiums:

(a) By any person at a rate of interest not greater than the rate prescribed by the superintendent of financial services pursuant to of this chapter, or, if no rate has been so prescribed, six per centum per annum;  or

(b) By a lending institution in accordance with the applicable provisions of other laws authorizing and regulating the making of loans by the lending institution.