N.Y. Insurance Law § 5901 : Insurance — Risk Retention Groups And Purchasing Groups — Title and purpose Date: 25 Jul 2016 TEXT PDF Current through 2016 New York Laws, Chapters 1 to 237 This article may be cited as the "risk retention groups and purchasing groups act." The purpose of this article is to regulate the formation and/or operation in this state of risk retention groups and purchasing groups formed pursuant to the provisions of the federal Liability Risk Retention Act of 1986 ( Public Law 99 - 563), to the extent permitted by such law. N.Y. Ins. Law § 5901