senate Bill S1662

2009-2010 Legislative Session

Removes the state insurance funds exemption from licensing and other requirements of the insurance law

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2010 referred to insurance
Feb 04, 2009 referred to insurance

S1662 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§1108 & 4522, Ins L; amd §§83 & 94, Work Comp L
Versions Introduced in Other Legislative Sessions:
2011-2012: S3836
2013-2014: S6755
2015-2016: S254
2017-2018: S4558

S1662 (ACTIVE) - Summary

Removes the state insurance funds exemption from licensing and other requirements of the insurance law; requires the superintendent of insurance to approve the rules adopted by the state insurance fund for the conduct of its business; and to remove the requirement for policyholders to provide thirty days notice to withdraw from the state insurance fund.

S1662 (ACTIVE) - Sponsor Memo

S1662 (ACTIVE) - Bill Text download pdf

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

                                  1662

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 4, 2009
                               ___________

Introduced  by  Sen. LAVALLE -- 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 removing the exemption
  of the state insurance fund from licensing and other requirements;  to
  amend  the  workers'  compensation  law,  in relation to requiring the
  superintendent of insurance to approve the rules adopted by the  state
  insurance fund for the conduct of its business; and to amend the work-
  ers'  compensation law, in relation to the requirement for policyhold-
  ers to provide 30 days notice to withdraw  from  the  state  insurance
  fund

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

  Section 1. Section 1108  of  the  insurance  law,  subsection  (c)  as
amended  by  chapter  838  of  the  laws  of 1985, is amended to read as
follows:
  S 1108. Insurers exempt from licensing  and  other  requirements.  The
following  insurers, their officers, agents, representatives and employ-
ees shall be exempt from licensing and other requirements imposed by the
provisions of this chapter (except article seventy-four hereof)  to  the
extent specified below:
  (a)  Any  charitable  annuity society which complies with the require-
ments of section one thousand one hundred ten of this  article,  to  the
extent therein stated.
  (b)  Any  fraternal  benefit  society, membership corporation or other
organization exempted under the provisions of article forty-five of this
chapter, to the extent therein stated.
  [(c) The state  insurance  fund  of  this  state,  except  as  to  the
provisions of subsection (d) of section two thousand three hundred thir-
ty-nine,  section  three thousand one hundred ten, subsection (a), para-
graph one of subsection (b),  paragraph  three  of  subsection  (c)  and
subsection (d) of section three thousand two hundred one, sections three

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06092-01-9

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