senate Bill S2704A

Signed By Governor
2011-2012 Legislative Session

Relates to license terms for new applicants for certain insurance licenses

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Archive: Last Bill Status - Signed by Governor


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

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Actions

view actions (23)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 17, 2012 signed chap.442
Aug 06, 2012 delivered to governor
May 30, 2012 returned to senate
passed assembly
ordered to third reading cal.636
substituted for a6435a
Mar 12, 2012 referred to insurance
delivered to assembly
passed senate
Mar 07, 2012 advanced to third reading
Mar 06, 2012 2nd report cal.
Mar 05, 2012 1st report cal.279
Jan 04, 2012 referred to insurance
returned to senate
died in assembly
Jun 07, 2011 referred to insurance
delivered to assembly
passed senate
May 16, 2011 amended on third reading 2704a
Feb 28, 2011 advanced to third reading
Feb 15, 2011 2nd report cal.
Feb 14, 2011 1st report cal.88
Jan 28, 2011 referred to insurance

Votes

view votes

Mar 5, 2012 - Insurance committee Vote

S2704A
18
0
committee
18
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Insurance committee vote details

Feb 14, 2011 - Insurance committee Vote

S2704
16
0
committee
16
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Bill Amendments

Original
A (Active)
Original
A (Active)

S2704 - Bill Details

See Assembly Version of this Bill:
A6435A
Law Section:
Insurance Law
Laws Affected:
Amd §§2103, 2104, 2105, 2107 & 2108, Ins L

S2704 - Bill Texts

view summary

Relates to license terms for new applicants for certain insurance licenses.

view sponsor memo
BILL NUMBER:S2704

TITLE OF BILL:
An act
to amend the insurance law, in relation to license terms of new
applicants

PURPOSE:
To allow the Superintendent of Insurance to issue licenses to
new applicants for a term longer than twenty-four months.

SUMMARY OF PROVISIONS:
Section 1 allows the Superintendent of
Insurance to issue licenses to new applicants for a term longer than
twenty-four months, but not to exceed a term of thirty months. The
fee for such additional months would be the licensing fee prorated
for the additional months of such license term. Section 2 clarifies
that continuing education requirements are required after the full
biennial licensing period as is currently the practice by the New
York State Department of Insurance. Section 3 provides that the bill
takes effect immediately.

JUSTIFICATION:
Licenses for insurance agents expire on an insurance
agent's birth date every other year. The licenses are issued for a
term of twenty-four months. When an agent makes an initial
application, however, the term is much shorter if the agent's date of
birth is shortly following the initial application. Currently, there
is no provision in the law that allows for an extended period of time
for a license to be issued to an initial applicant. The result is
applicants must apply and obtain a new license immediately following
the issuance of the initial license. Allowing the Superintendent to
extend the initial license period will streamline the process for
both applicants and New York State Department of Insurance.

LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.

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

                                  2704

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 28, 2011
                               ___________

Introduced  by  Sen.  SEWARD -- 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 license terms  of  new
  applicants

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

  Section 1. Paragraph 3 of subsection j of section 2103 of  the  insur-
ance  law,  as  added  by chapter 769 of the laws of 1984, is amended to
read as follows:
  (3) [Such licenses may be issued for all of such two year  terms,  or,
upon  application made during any such term, for the balance thereof] IN
THE CASE OF A LICENSE ISSUED TO A NEW APPLICANT, THE SUPERINTENDENT  MAY
ISSUE  A  LICENSE  FOR  A TERM OF MORE THAN TWO YEARS, PROVIDED HOWEVER,
SUCH TERM SHALL NOT EXCEED THIRTY MONTHS.
  S 2. Paragraph 1 of subsection c of section 2132 of the insurance law,
as added by chapter 656 of the laws of  1992,  is  amended  to  read  as
follows:
  (1)  Any  person holding a license issued pursuant to this article and
not exempt under subsection (b) of this section shall, during each  full
biennial  licensing  period, SUBSEQUENT TO THE INITIAL LICENSING PERIOD,
satisfactorily complete courses or programs  of  instruction  or  attend
seminars  as may be approved by the superintendent equivalent to fifteen
credit hours of instruction.
  S 3. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08793-01-1

S2704A (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A6435A
Law Section:
Insurance Law
Laws Affected:
Amd §§2103, 2104, 2105, 2107 & 2108, Ins L

S2704A (ACTIVE) - Bill Texts

view summary

Relates to license terms for new applicants for certain insurance licenses.

view sponsor memo
BILL NUMBER:S2704A

TITLE OF BILL:
An act
to amend the insurance law, in relation to license terms of new
applicants

PURPOSE:
To allow the Superintendent of Insurance to issue licenses to
new applicants for a term longer than twenty-four months.

SUMMARY OF PROVISIONS:
Amends sections 2103, 2104, 2105, 2107 and 2108 of
the insurance law to allow the Superintendent of Insurance to issue
licenses to new applicants for a term longer than twenty-four months,
but not to exceed a term of thirty months.

JUSTIFICATION:
Licenses for insurance agents expire on an insurance
agent's birth date every other year. The licenses are issued for a
term of twenty-four months. When an agent makes an initial
application, however, the term is much shorter if the agent's date of
birth is shortly following the initial application. Currently, there
is no provision in the law that allows for an extended period of time
for a license to be issued to an initial applicant. The result is
applicants must apply and obtain a new license immediately following
the issuance of the initial license. Allowing the Superintendent to
extend the initial license period will streamline the process for
both applicants and New York State Department of Insurance.

LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect on the ninetieth day after becoming a
law.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 2704--A
    Cal. No. 88

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 28, 2011
                               ___________

Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
  printed to be committed to the  Committee  on  Insurance  --  reported
  favorably  from  said  committee,  ordered to first and second report,
  ordered to a third reading, amended and ordered  reprinted,  retaining
  its place in the order of third reading

AN  ACT  to amend the insurance law, in relation to license terms of new
  applicants

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

  Section  1.  Paragraph 3 of subsection j of section 2103 of the insur-
ance law, as added by chapter 769 of the laws of  1984,  is  amended  to
read as follows:
  (3)  [Such  licenses may be issued for all of such two year terms, or,
upon application made during any such term, for the balance thereof]  IN
THE  CASE OF A LICENSE ISSUED TO A NEW APPLICANT, THE SUPERINTENDENT MAY
ISSUE A LICENSE FOR A TERM OF MORE THAN  TWO  YEARS,  PROVIDED  HOWEVER,
SUCH TERM SHALL NOT EXCEED THIRTY MONTHS.
  S 2. Paragraph 1 of subsection g of section 2104 of the insurance law,
as  amended by section 4 of part F of chapter 59 of the laws of 2005, is
amended to read as follows:
  (1) Every insurance broker's license issued pursuant to  this  section
to  a  business  entity shall be for a term expiring on the thirty-first
day of October of even-numbered years. On and after January  first,  two
thousand  seven,  every  license  issued  pursuant to this section to an
individual, and every license in effect  prior  to  January  first,  two
thousand  seven  that was issued pursuant to this section to an individ-
ual, who was born in an odd numbered year, shall expire on the  individ-
ual's  birthday  in  each odd numbered year. On and after January first,
two thousand seven, every license issued pursuant to this section to  an
individual,  and  every  license  in  effect prior to January first, two
thousand seven that was issued pursuant to this section to  an  individ-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08793-02-1

S. 2704--A                          2

ual, who was born in an even numbered year, shall expire on the individ-
ual's  birthday  in  each  even numbered year. Every such license may be
renewed for the ensuing period of twenty-four months upon the filing  of
an  application  in  conformity  with  this  section.   IN THE CASE OF A
LICENSE ISSUED TO A  NEW  APPLICANT,  THE  SUPERINTENDENT  MAY  ISSUE  A
LICENSE  FOR  A TERM OF MORE THAN TWO YEARS, PROVIDED HOWEVER, SUCH TERM
SHALL NOT EXCEED THIRTY MONTHS.
  S 3. Subsection (d) of section 2105 of the insurance law,  as  amended
by  section 5 of part F of chapter 59 of the laws of 2005, is amended to
read as follows:
  (d) Every license issued pursuant to this section shall be for a  term
expiring with the expiration of the qualifying broker license and may be
renewed  for the ensuing period of twenty-four months upon the filing of
an application in conformity with subsection (b)  of  this  section  and
paying  the  fee  prescribed  by subsection (c) of this section.  IN THE
CASE OF A LICENSE ISSUED TO A  NEW  APPLICANT,  THE  SUPERINTENDENT  MAY
ISSUE  A  LICENSE  FOR  A TERM OF MORE THAN TWO YEARS, PROVIDED HOWEVER,
SUCH TERM SHALL NOT EXCEED THIRTY MONTHS.
  S 4. Paragraph 1 of subsection (b) of section 2107  of  the  insurance
law,  as  amended  by  section  8 of part F of chapter 59 of the laws of
2005, is amended to read as follows:
  (1) Before an  insurance  consultant's  license  shall  be  issued  or
renewed  the  prospective  licensee shall properly file in the office of
the superintendent an application therefor in such  form  or  forms  and
supplements  that  the superintendent prescribes, and pay a fee of fifty
dollars for each year or fraction of a year in which a license shall  be
valid  and pay an additional fee of fifty dollars for each year or frac-
tion of a year in which a license shall be valid for each  sub-licensee.
Every consultant's license issued pursuant to this section to a business
entity  shall  expire  on the thirty-first day of March, with respect to
(A) life insurance in the odd year and (B) general insurance in the even
year, next following the date of issue. On and after January first,  two
thousand  seven,  every  license  issued  pursuant to this section to an
individual consultant, and every license  in  effect  prior  to  January
first  two thousand seven that was issued pursuant to this section to an
individual consultant, who was born  in  an  odd  numbered  year,  shall
expire  on  the  individual's birthday in each odd numbered year. On and
after January first, two thousand seven, every license  issued  pursuant
to this section to an individual consultant, and every license in effect
prior  to  January first, two thousand seven that was issued pursuant to
this section to an individual  consultant,  who  was  born  in  an  even
numbered  year,  shall  expire on the individual's birthday in each even
numbered year. Every license issued pursuant  to  this  section  may  be
renewed  for the ensuing period of twenty-four months upon the filing of
an application in conformity with this subsection.   IN THE  CASE  OF  A
LICENSE  ISSUED  TO  A  NEW  APPLICANT,  THE  SUPERINTENDENT MAY ISSUE A
LICENSE FOR A TERM OF MORE THAN TWO YEARS, PROVIDED HOWEVER,  SUCH  TERM
SHALL NOT EXCEED THIRTY MONTHS.
  S  5.  Paragraph  1 of subsection (j) of section 2108 of the insurance
law, as amended by chapter 285 of the laws of 1993, is amended  to  read
as follows:
  (1)  Every adjuster's license issued pursuant to this section shall be
for a term expiring on the thirty-first day of December of even numbered
years, and may be renewed for the ensuing two calendar  years  upon  the
filing  of  an application in conformity with subsection (d) hereof.  IN
THE CASE OF A LICENSE ISSUED TO A NEW APPLICANT, THE SUPERINTENDENT  MAY

S. 2704--A                          3

ISSUE  A  LICENSE  FOR  A TERM OF MORE THAN TWO YEARS, PROVIDED HOWEVER,
SUCH TERM SHALL NOT EXCEED THIRTY MONTHS.
  S  6.  This  act shall take effect on the ninetieth day after it shall
have become a law.

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