N.Y. Comp. Codes R. & Regs. tit. 11, § 126.8 – Exemptions.

(a) established by an alien insurer pursuant to the provisions of section 1315 of the New York Insurance Law; or
(b) entered into by unauthorized insurers pursuant to the provisions of:
1. (1) sections 27.14 and section 27.15 of this Title (Regulation No. 41);
2. (2) section 125.4 of this Title (Regulation No. 20); or
3. (3) section 79.5 of this Title (Regulation No. 133).

The required conditions contained in this Part shall not apply to trust agreements: