Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 25, 2010 |
referred to insurance delivered to assembly passed senate |
Jun 03, 2010 |
advanced to third reading |
Jun 02, 2010 |
2nd report cal. |
Jun 01, 2010 |
1st report cal.684 |
Apr 30, 2010 |
referred to insurance |
Senate Bill S7674
2009-2010 Legislative Session
Sponsored By
(D, WF) 46th Senate District
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2009-S7674 (ACTIVE) - Details
- Current Committee:
- Assembly Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd ยงยง1101 & 2117, Ins L
- Versions Introduced in 2011-2012 Legislative Session:
-
S3665
2009-S7674 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7674 TITLE OF BILL : An act to amend the insurance law, in relation to permitting unauthorized foreign or alien insurers to contact nonresident persons, firms, associations or corporations to make insurance contracts PURPOSE OR GENERAL IDEA OF BILL : This bill would permit a person as defined under section one thousand five hundred and one of the insurance law to act on behalf an unauthorized insurer in relation to non-New York residents as long as that person and the unauthorized insurer are part of the same holding company system as a domestic insurer. SUMMARY OF SPECIFIC PROVISIONS : Section one amends Insurance Law section 1101 by adding a new subsection (b) (6) that would allow a person in the same holding company system as a domestic insurer and unauthorized insurer to act in this state on behalf of the unauthorized insurer with respect to persons not resident in the state. Section two amends Insurance Law section 2117 by adding a new
2009-S7674 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7674 I N S E N A T E April 30, 2010 ___________ Introduced by Sen. BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law, in relation to permitting unauthor- ized foreign or alien insurers to contact nonresident persons, firms, associations or corporations to make insurance contracts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (b) of section 1101 of the insurance law is amended by adding a new paragraph 6 to read as follows: (6) NOTWITHSTANDING THE FOREGOING, A PERSON, AS DEFINED IN SECTION ONE THOUSAND FIVE HUNDRED ONE OF THIS CHAPTER, ON BEHALF OF AN UNAUTHORIZED FOREIGN OR ALIEN INSURER DULY LICENSED TO TRANSACT THE BUSINESS OF INSURANCE BY THE LAWS OF ITS DOMICILE MAY, FROM WITHIN THIS STATE, CONTACT ANY PERSON, FIRM, ASSOCIATION OR CORPORATION NOT A RESIDENT OF THIS STATE FOR THE PURPOSE OF PROPOSING TO MAKE ANY INSURANCE CONTRACT OR TO SOLICIT APPLICATIONS OR PERFORM SERVICES FOR ANY SUCH POLICIES OR CONTRACTS WITH RESPECT TO PERSONS OR RISKS NOT RESIDENT OR LOCATED IN THIS STATE, PROVIDED THAT SUCH PERSON IS IN THE SAME HOLDING COMPANY SYSTEM WITH A DOMESTIC INSURER AND THE AFOREMENTIONED UNAUTHORIZED FOREIGN OR ALIEN INSURER. SUCH ACTIVITIES SHALL NOT BE DEEMED UNDER THIS CHAPTER AS DOING AN INSURANCE BUSINESS IN THIS STATE AND SUCH PERSON MAY MAINTAIN AN OFFICE IN THIS STATE UNDER ITS OWN NAME, AND EMPLOY PERSONS WITHIN THIS STATE, IN FURTHERANCE OF SUCH ACTIVITIES. FOR THE PURPOSES OF THIS SECTION, PERMITTED SERVICES INCLUDE, BUT ARE NOT LIMITED TO, UNDERWRITING, NEGOTIATING CONTRACT TERMS, QUOTING PREMIUMS, COLLECTING OF PREMIUMS, AND CLAIMS HANDLING. S 2. Section 2117 of the insurance law is amended by adding a new subsection (j) to read as follows: (J) NOTWITHSTANDING ANYTHING IN THIS CHAPTER, A PERSON, AS DEFINED IN SECTION ONE THOUSAND FIVE HUNDRED ONE OF THIS CHAPTER, ON BEHALF OF AN UNAUTHORIZED FOREIGN OR ALIEN INSURER DULY LICENSED TO TRANSACT THE BUSINESS OF INSURANCE BY THE LAWS OF ITS DOMICILE MAY, FROM WITHIN THIS STATE, CONTACT ANY PERSON, FIRM, ASSOCIATION OR CORPORATION NOT A RESI- DENT OF THIS STATE FOR THE PURPOSE OF PROPOSING TO MAKE ANY INSURANCE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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