Relates to orders of conservation for domestic insurers

This bill amends New York's Insurance Law to clarify procedures for placing insurers under "conservation" (a protective measure for financially troubled companies). It updates Section 7406 to specify when the Superintendent of Insurance can seek a conservation order, including if an insurer consents via majority vote or if its property is frozen in its home jurisdiction. Section 7407 is revised to streamline the Superintendent's role as "ancillary receiver" when a foreign insurer's home state appoints a receiver, removing certain procedural barriers. The changes directly affect domestic, foreign, and alien insurers operating in New York, particularly during financial distress or when home-state receivers are involved.