Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 05, 2015 |
signed chap.361 |
Oct 01, 2015 |
delivered to governor |
Jun 24, 2015 |
returned to assembly passed senate substituted for s2152 |
Jun 24, 2015 |
substituted by a2026 |
Jun 08, 2015 |
advanced to third reading |
Jun 03, 2015 |
2nd report cal. |
Jun 02, 2015 |
1st report cal.1226 |
Jan 21, 2015 |
referred to judiciary |
Senate Bill S2152
Signed By Governor2015-2016 Legislative Session
Sponsored By
(D, WF) 63rd Senate District
Archive: Last Bill Status Via A2026 - Signed by Governor
- 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
2015-S2152 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A2026
- Law Section:
- General Obligations Law
- Laws Affected:
- Amd ยง5-1708-a, Gen Ob L
2015-S2152 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2152 TITLE OF BILL: An act to amend the general obligations law, in relation to waivers for families of victims of terrorist attacks PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to provide family members of victims of terrorist attacks against the U.S. with the opportunity to receive premium deductions with respect to structure settlement transfer agreements. SUMMARY OF SPECIFIC PROVISIONS: This bill would permit annuity insurers or their employees or representatives to waive commissions or other compensation otherwise due in connection with the sale of a policy or contract subject to the provisions of section four thousand two hundred twenty-four of the insurance law to immediate family members of victims of terrorist attacks against the United States. Currently, this waiver is available to immediate family members of victims of the September 11, 2001 terrorist attacks. This would expand this waiver to all other terrorist actions, past and future, against the United States.
2015-S2152 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2152 2015-2016 Regular Sessions I N S E N A T E January 21, 2015 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the general obligations law, in relation to waivers for families of victims of terrorist attacks THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 5-1708-a of the general obligations law, as added by chapter 568 of the laws of 2003 and subdivision (d) as further amended by section 104 of part A of chapter 62 of the laws of 2011, is amended to read as follows: S 5-1708-a. Waiver for families of victims of terrorist attacks. Notwithstanding the provisions of section four thousand two hundred twenty-four of the insurance law: (a) An annuity issuer, or an employee or other representative of such issuer, shall be permitted to waive or offer to waive the commission or other compensation otherwise payable thereto as a result of the sale of a policy or contract subject to the provisions of section four thousand two hundred twenty-four of the insurance law to a member of the immedi- ate family of a person who was a victim of the September eleventh, two thousand one terrorist attacks against the United States OR ANY TERROR- IST ATTACK AS DEFINED BY SUBDIVISION (E) OF THIS SECTION; and (b) In connection with such waiver, the insurance company may, at the election of the policyowner or contract owner: (i) contribute the amount of such waived commission or other compen- sation to a charitable organization that meets the requirements of section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and is organized for the benefit of families of victims of [such attack] TERRORIST ATTACKS; or (ii) deduct from the premium an amount equal to such waived commission or other compensation otherwise payable thereto as a result of the sale. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04959-01-5
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