N.Y. Ins. Law § 7506

§ 7506. Companies excluded from article. There is hereby excluded from\nthe provisions of this article any life insurance company organized and\noperated, without profit to any private shareholder or individual,\nexclusively to aid and strengthen charitable, religious, missionary,\neducational or philanthropic institutions by issuing policies or\ncontracts only to or for the benefit of such institutions, to\nindividuals engaged in serving such institutions and to members of their\nimmediate families.\n