Assembly Bill A2753

2009-2010 Legislative Session

Relates to compensation for information concerning fraudulent insurance transaction

download bill text pdf

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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

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2009-A2753 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §405-a, Ins L
Versions Introduced in Other Legislative Sessions:
2011-2012: A2854
2013-2014: A3503
2015-2016: A2259
2017-2018: A2551
2019-2020: A3072
2021-2022: A1519
2023-2024: A4495

2009-A2753 (ACTIVE) - Summary

Provides that any person who provides information to the attorney general, a district attorney or the insurance frauds bureau concerning a fraudulent insurance transaction or with information about a fraudulent insurance transaction that is about to take place may be entitled to an award of forty percent of the action or claim relating to such fraudulent action.

2009-A2753 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2753

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 21, 2009
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Insurance

AN ACT to amend the insurance  law,  in  relation  to  compensation  for
  reports of insurance fraud to law enforcement authorities

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The insurance law is amended by adding a new section  405-a
to read as follows:
  S  405-A.   COMPENSATION FOR REPORT OF INSURANCE FRAUD TO LAW ENFORCE-
MENT AUTHORITIES. (A)  ANY  PERSON,  OTHER  THAN  PERSONS  DESCRIBED  IN
SUBSECTION  (A)  OF  SECTION  FOUR HUNDRED FIVE OF THIS ARTICLE, WHO HAS
REASON TO BELIEVE THAT A FRAUDULENT INSURANCE ACT PROHIBITED PURSUANT TO
ARTICLE ONE HUNDRED SEVENTY-SIX OF THE PENAL LAW HAS BEEN  COMMITTED  OR
THAT AN INSURANCE TRANSACTION MAY BE FRAUDULENT, OR HAS KNOWLEDGE THAT A
FRAUDULENT  INSURANCE  TRANSACTION  IS ABOUT TO TAKE PLACE, OR HAS TAKEN
PLACE MAY REPORT SUCH ACT OR TRANSACTION AND ANY ADDITIONAL  INFORMATION
RELATIVE TO THE FACTUAL CIRCUMSTANCES OF THE TRANSACTION AND THE PARTIES
INVOLVED  TO THE ATTORNEY GENERAL, DISTRICT ATTORNEY OR INSURANCE FRAUDS
BUREAU.
  (B) IF THE INSURANCE FRAUDS BUREAU RECOMMENDS TO THE ATTORNEY  GENERAL
OR DISTRICT ATTORNEY TO COMMENCE AN ACTION OR IF THE ATTORNEY GENERAL OR
DISTRICT ATTORNEY COMMENCES AN ACTION BASED ON INFORMATION PROVIDED BY A
PERSON  PURSUANT  TO  SUBSECTION  (A)  OF THIS SECTION, THEN SUCH PERSON
SHALL BE ENTITLED TO RECEIVE AN AWARD OF FORTY PERCENT OF  THE  PROCEEDS
OF  THE ACTION.   THE ATTORNEY GENERAL OR DISTRICT ATTORNEY SHALL RECOM-
MEND TO THE COURT WHEN A SETTLEMENT IS ENTERED THE AMOUNT OF SUCH AWARD.
THE COURT SHALL BASE SUCH AWARD DECISION ON  THE  EXTENT  TO  WHICH  THE
PERSON SUBSTANTIALLY CONTRIBUTED TO THE PROSECUTION OF THE ACTION.
  S  2.  This  act  shall take effect immediately and shall apply to all
reports of fraudulent insurance transactions  made  on  and  after  such
effective date.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05614-01-9

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