senate Bill S2874B

Signed By Governor
2011-2012 Legislative Session

Relates to the incorporation of co-operative property/casualty insurance keeping of records by such companies

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A8627 - 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 (29)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 18, 2012 signed chap.126
Jul 06, 2012 delivered to governor
May 30, 2012 returned to assembly
passed senate
3rd reading cal.566
substituted for s2874b
May 30, 2012 substituted by a8627b
May 16, 2012 amended on third reading 2874b
vote reconsidered - restored to third reading
May 16, 2012 returned to senate
recalled from assembly
May 02, 2012 referred to insurance
delivered to assembly
passed senate
Apr 30, 2012 advanced to third reading
Apr 26, 2012 2nd report cal.
Apr 25, 2012 1st report cal.566
Apr 11, 2012 print number 2874a
amend and recommit to insurance
Jan 04, 2012 referred to insurance
returned to senate
died in assembly
Jun 07, 2011 referred to insurance
delivered to assembly
passed senate
Apr 06, 2011 advanced to third reading
Apr 05, 2011 2nd report cal.
Apr 04, 2011 1st report cal.232
Feb 02, 2011 referred to insurance

Votes

view votes

Apr 25, 2012 - Insurance committee Vote

S2874A
16
0
committee
16
Aye
0
Nay
0
Aye with Reservations
1
Absent
1
Excused
0
Abstained
show committee vote details

Committee Vote: Apr 25, 2012

absent (1)
excused (1)

Apr 4, 2011 - Insurance committee Vote

S2874
15
2
committee
15
Aye
2
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

S2874 - Details

See Assembly Version of this Bill:
A8627B
Law Section:
Insurance Law
Laws Affected:
Amd §6603, Ins L

S2874 - Summary

Relates to the incorporation of co-operative property/casualty insurance companies and to the keeping of records by such companies.

S2874 - Sponsor Memo

S2874 - Bill Text download pdf

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

                                  2874

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 2, 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  incorporation  of
  co-operative  property/casualty insurance companies and the keeping of
  records by such companies

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

  Section  1. Subparagraphs (E) and (F) of paragraph 5 of subsection (a)
of section 6603 of the insurance law, subparagraph  (E)  as  amended  by
chapter 114 of the laws of 1988 and subparagraph (F) as added by chapter
137 of the laws of 1986, are amended to read as follows:
  (E)  The  number of its directors, which shall be not less than [nine]
SEVEN, and a provision that in no case shall the number of directors  be
less than [nine] SEVEN.
  (F)  The  times and manner of electing its directors and officers, the
manner of filling vacancies in such offices, and a provision that at all
times a majority of the directors shall be  citizens  and  residents  of
[this  state]  THE UNITED STATES and that [all shall be residents within
the territory in which the corporation is licensed to do  business]  NOT
LESS THAN ONE SHALL BE A RESIDENT OF THIS STATE.
  S 2. Subparagraph (C) of paragraph 4 of subsection (a) of section 6611
of  the  insurance  law, as added by chapter 137 of the laws of 1986, is
amended to read as follows:
  (C) All checks issued shall be signed either  by  [two  officers]  ONE
OFFICER  or  by  [one officer upon the written order of another officer,
except as otherwise] A NON-OFFICER IF provided FOR by resolution of  the
corporation's  board  of  directors  or  in its by-laws [for handling of
miscellaneous expenses].
  S 3. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08796-02-1

S2874A - Details

See Assembly Version of this Bill:
A8627B
Law Section:
Insurance Law
Laws Affected:
Amd §6603, Ins L

S2874A - Summary

Relates to the incorporation of co-operative property/casualty insurance companies and to the keeping of records by such companies.

S2874A - Sponsor Memo

S2874A - Bill Text download pdf

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

                                 2874--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 2, 2011
                               ___________

Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance  --  recommitted
  to the Committee on Insurance in accordance with Senate Rule 6, sec. 8
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted to said committee

AN ACT to amend the insurance  law,  in  relation  to  incorporation  of
  co-operative  property/casualty insurance companies and the keeping of
  records by such companies

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

  Section  1. Subparagraphs (E) and (F) of paragraph 5 of subsection (a)
of section 6603 of the insurance law, subparagraph  (E)  as  amended  by
chapter 114 of the laws of 1988 and subparagraph (F) as added by chapter
137 of the laws of 1986, are amended to read as follows:
  (E)  The  number of its directors, which shall be not less than [nine]
SEVEN, and a provision that in no case shall the number of directors  be
less than [nine] SEVEN.
  (F)  The  times and manner of electing its directors and officers, the
manner of filling vacancies in such offices, and a provision that at all
times a majority of the directors shall be  citizens  and  residents  of
this  state and that [all shall be residents] NOT LESS THAN ONE SHALL BE
A RESIDENT within the territory in which the corporation is licensed  to
do business.
  S 2. Subparagraph (C) of paragraph 4 of subsection (a) of section 6611
of  the  insurance  law, as added by chapter 137 of the laws of 1986, is
amended to read as follows:
  (C) All checks issued shall be signed [either by two officers  or]  by
one officer [upon the written order of another officer, except as other-
wise  provided  by resolution of the corporation's board of directors or
in its by-laws for handling of miscellaneous expenses].
  S 3. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08796-03-2

S2874B (ACTIVE) - Details

See Assembly Version of this Bill:
A8627B
Law Section:
Insurance Law
Laws Affected:
Amd §6603, Ins L

S2874B (ACTIVE) - Summary

Relates to the incorporation of co-operative property/casualty insurance companies and to the keeping of records by such companies.

S2874B (ACTIVE) - Sponsor Memo

S2874B (ACTIVE) - Bill Text download pdf

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

                                 2874--B
    Cal. No. 566

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 2, 2011
                               ___________

Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance  --  recommitted
  to the Committee on Insurance in accordance with Senate Rule 6, sec. 8
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted to said committee  --  reported  favorably  from  said
  committee,  ordered  to  first  and  second report, ordered to a third
  reading, passed by Senate and delivered  to  the  Assembly,  recalled,
  vote  reconsidered,  restored  to  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  incorporation  of
  co-operative  property/casualty insurance companies and the keeping of
  records by such companies

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

  Section  1. Subparagraphs (E) and (F) of paragraph 5 of subsection (a)
of section 6603 of the insurance law, subparagraph  (E)  as  amended  by
chapter 114 of the laws of 1988 and subparagraph (F) as added by chapter
137 of the laws of 1986, are amended to read as follows:
  (E)  The  number of its directors, which shall be not less than [nine]
SEVEN, and a provision that in no case shall the number of directors  be
less than [nine] SEVEN.
  (F)  The  times and manner of electing its directors and officers, the
manner of filling vacancies in such offices, and a provision that at all
times a majority of the directors shall be  citizens  and  residents  of
this  state and that [all shall be residents] NOT LESS THAN ONE SHALL BE
A RESIDENT within the territory in which the corporation is licensed  to
do business.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08796-06-2

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