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Assembly Bill A10414

2011-2012 Legislative Session

Relates to limitations on expenditures from the insurance reserve fund

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Archive: Last Bill Status - In Senate Committee Rules Committee

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2011-A10414 (ACTIVE) - Details

See Senate Version of this Bill:
S7528
Current Committee:
Senate Rules
Law Section:
General Municipal Law
Laws Affected:
Amd ยง6-n, Gen Muni L
Versions Introduced in 2013-2014 Legislative Session:
A2327

2011-A10414 (ACTIVE) - Summary

Relates to limitations on expenditures from the insurance reserve fund and narrows the exclusions.

2011-A10414 (ACTIVE) - Bill Text download pdf 

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

                                  10414

                          I N  A S S E M B L Y

                              May 25, 2012
                               ___________

Introduced  by M. of A. PAULIN, MAGNARELLI, GOTTFRIED, BRINDISI, ABINAN-
  TI, GUNTHER, HOOPER, JAFFEE, LUPARDO, REILLY, ROBERTS  --  Multi-Spon-
  sored  by  --  M.  of  A.  LATIMER,  SWEENEY,  THIELE -- read once and
  referred to the Committee on Local Governments

AN ACT to amend the general municipal law, in relation to limitations on
  expenditures from the insurance reserve fund

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

  Section 1. Paragraph (a) of subdivision 2 of section 6-n of the gener-
al  municipal  law,  as  amended  by chapter 350 of the laws of 1988, is
amended to read as follows:
  (a) The governing board of any municipal corporation may  establish  a
reserve  fund  to  be  known  as  the  insurance  reserve fund. Upon the
creation of the fund, the municipality may make  expenditures  from  the
fund  for  any  loss,  claim, action or judgment for which the municipal
corporation is authorized or required to purchase or maintain insurance,
except those kinds of risks for which insurance is  authorized  pursuant
to  paragraph  one, two, [three,] fifteen, sixteen, seventeen, eighteen,
twenty-two or twenty-three of subsection (a) of section one thousand one
hundred thirteen of the insurance  law,  or  for  payments  in  lieu  of
contributions under article eighteen of the labor law; provided however,
that  no  municipality  shall make an expenditure from such fund for any
loss, claim, action or judgment for which the municipal corporation  has
established a reserve fund under any other provision of law.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15811-01-2

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