Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 01, 2022 |
returned to senate passed assembly |
May 24, 2022 |
ordered to third reading rules cal.390 substituted for a10227 |
May 17, 2022 |
referred to insurance delivered to assembly passed senate |
May 11, 2022 |
advanced to third reading |
May 10, 2022 |
2nd report cal. |
May 09, 2022 |
1st report cal.1089 |
Apr 27, 2022 |
referred to insurance |
Senate Bill S8902
2021-2022 Legislative Session
Sponsored By
(D, WF) 46th Senate District
Archive: Last Bill Status - Passed Senate & Assembly
- 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
2021-S8902 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10227
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§1325 & 2343, Ins L
2021-S8902 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8902 SPONSOR: BRESLIN TITLE OF BILL: An act to amend the insurance law, in relation to extending certain provisions relating to medical malpractice insurers PURPOSE: The purpose of this bill is to amend the Insurance Law in relation to extending certain provisions related to medical malpractice insurers. SUMMARY OF PROVISIONS: Section 1 of the bill would amend Insurance Law § 1325 to extend until December 31, 2025, the exemption from the risk-based capital ("RBC") requirements of Insurance Law § 1324 for those stock and non-stock insurers to which 1324 (b) (2) (B) applies. Section 2 would amend Insurance Law *S 2343(c) to extend until December 31, 2025, the prohibition on making an application for an order of reha-
2021-S8902 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8902 I N S E N A T E April 27, 2022 ___________ 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 extending certain provisions relating to medical malpractice insurers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1325 of the insurance law, as amended by chapter 435 of the laws of 2019, is amended to read as follows: § 1325. Exemption. For the purposes of exempting certain insurance companies from the provisions of section one thousand three hundred twenty-four of this article, the superintendent shall exempt, through December thirty-first, two thousand [twenty-two] TWENTY-FIVE, those stock and non-stock insurance companies to which subparagraph (B) of paragraph two of subsection (b) of such section applies. § 2. Subsection (c) of section 2343 of the insurance law, as amended by chapter 435 of the laws of 2019, is amended to read as follows: (c) Notwithstanding any other provision of this chapter, no applica- tion for an order of rehabilitation or liquidation of a domestic insurer whose primary liability arises from the business of medical malpractice insurance, as that term is defined in subsection (b) of section five thousand five hundred one of this chapter, shall be made on the grounds specified in subsection (a) or (c) of section seven thousand four hundred two of this chapter at any time prior to December thirty-first, two thousand [twenty-two] TWENTY-FIVE. § 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15529-01-2
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