senate Bill S4426

Signed By Governor
2011-2012 Legislative Session

Extends certain provisions of law relating to the New York property insurance underwriting association

download bill text pdf

Sponsored By

Archive: Last Bill Status -

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

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view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 28, 2011 signed chap.102
Jun 27, 2011 delivered to governor
Jun 01, 2011 returned to senate
passed assembly
ordered to third reading cal.484
substituted for a7430
May 04, 2011 referred to insurance
delivered to assembly
passed senate
Apr 13, 2011 advanced to third reading
Apr 12, 2011 2nd report cal.
Apr 11, 2011 1st report cal.333
Apr 05, 2011 referred to insurance

S4426 - Details

See Assembly Version of this Bill:
Law Section:
Insurance Law
Laws Affected:
Amd ยงยง5412, 2328, 2329, 3425, 2305, 2342 & 2344, Ins L

S4426 - Summary

Extends certain provisions of law relating to the New York property insurance underwriting association and certain powers of such association.

S4426 - Sponsor Memo

S4426 - Bill Text download pdf

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


                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              April 5, 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 extending  the  effec-
  tiveness   of   certain   provisions   relating   to   automobile  and
  property/casualty insurance rates


  Section  1.  Subsection  (g)  of section 5412 of the insurance law, as
amended by chapter 136 of the laws  of  2008,  is  amended  to  read  as
  (g)  The  provisions of this section shall cease to be of any force or
effect on or after  June  thirtieth,  two  thousand  [eleven]  FOURTEEN,
except that policies issued or other obligations incurred by the associ-
ation  shall  not  be impaired by the expiration of this section and the
association shall continue for the purpose of  servicing  such  policies
and performing such obligations.
  S  2. Sections 2328 and 2329 of the insurance law, as amended by chap-
ter 136 of the laws of 2008, are amended to read as follows:
  S 2328. Certain motor vehicle insurance rates; prior approval. For the
periods February first, nineteen  hundred  seventy-four  through  August
second,   two   thousand   one,   and   the   effective   date   of  the
property/casualty insurance availability act through June thirtieth, two
thousand [eleven] FOURTEEN, no changes in rates,  rating  plans,  rating
rules  and rate manuals applicable to motor vehicle insurance, including
no-fault coverages under article fifty-one of  this  chapter,  shall  be
made effective until approved by the superintendent, notwithstanding any
inconsistent provisions of this article; provided, however, that changes
in  such  rates, rating plans, rating rules and rate manuals may be made
effective without such approval if the  rates  which  result  from  such
changes  are  no  higher  than  the insurer's rates last approved by the
superintendent. This section shall apply only to policies covering loss-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
S                                                          LBD10606-01-1


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