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Assembly Bill A7849

2011-2012 Legislative Session

Permits unauthorized foreign or alien insurers to contact nonresident persons, firms, associations or corporations to make insurance contracts

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Archive: Last Bill Status - In Assembly Committee

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2011-A7849 (ACTIVE) - Details

See Senate Version of this Bill:
S3665
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยงยง1101 & 2117, Ins L
Versions Introduced in 2009-2010 Legislative Session:
S7674

2011-A7849 (ACTIVE) - Summary

Permits unauthorized foreign or alien insurers to contact nonresident persons, firms, associations or corporations to make insurance contracts.

2011-A7849 (ACTIVE) - Bill Text download pdf 

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

                                  7849

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 19, 2011
                               ___________

Introduced  by M. of A. MORELLE -- read once and referred to the Commit-
  tee on Insurance

AN ACT to amend the insurance law, in relation to  permitting  unauthor-
  ized  foreign or alien insurers to contact nonresident persons, firms,
  associations or corporations to make insurance contracts

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

  Section  1.  Subsection  (b)  of  section 1101 of the insurance law is
amended by adding a new paragraph 8 to read as follows:
  (8) NOTWITHSTANDING THE FOREGOING, A PERSON, AS DEFINED IN SECTION ONE
THOUSAND FIVE HUNDRED ONE OF THIS CHAPTER, ON BEHALF OF AN  UNAUTHORIZED
FOREIGN  OR  ALIEN  INSURER  DULY  LICENSED  TO TRANSACT THE BUSINESS OF
INSURANCE BY THE LAWS OF ITS  DOMICILE  MAY,  FROM  WITHIN  THIS  STATE,
CONTACT  ANY  PERSON, FIRM, ASSOCIATION OR CORPORATION NOT A RESIDENT OF
THIS STATE FOR THE PURPOSE OF PROPOSING TO MAKE ANY  INSURANCE  CONTRACT
OR  TO SOLICIT APPLICATIONS OR PERFORM SERVICES FOR ANY SUCH POLICIES OR
CONTRACTS WITH RESPECT TO PERSONS OR RISKS NOT RESIDENT  OR  LOCATED  IN
THIS  OR ANY OTHER STATE, PROVIDED THAT SUCH PERSON IS IN THE SAME HOLD-
ING COMPANY SYSTEM WITH A DOMESTIC INSURER AND THE AFOREMENTIONED  UNAU-
THORIZED  FOREIGN  OR ALIEN INSURER. SUCH ACTIVITIES SHALL NOT BE DEEMED
UNDER THIS CHAPTER AS DOING AN INSURANCE BUSINESS IN THIS STATE AND SUCH
PERSON MAY MAINTAIN AN OFFICE IN THIS STATE  UNDER  ITS  OWN  NAME,  AND
EMPLOY PERSONS WITHIN THIS STATE, IN FURTHERANCE OF SUCH ACTIVITIES. FOR
THE  PURPOSES  OF  THIS SECTION, PERMITTED SERVICES INCLUDE, BUT ARE NOT
LIMITED TO, UNDERWRITING, NEGOTIATING CONTRACT TERMS, QUOTING  PREMIUMS,
COLLECTING OF PREMIUMS, AND CLAIMS HANDLING.
  S  2.  Section  2117  of  the insurance law is amended by adding a new
subsection (k) to read as follows:
  (K) NOTWITHSTANDING ANYTHING IN THIS CHAPTER, A PERSON, AS DEFINED  IN
SECTION  ONE  THOUSAND FIVE HUNDRED ONE OF THIS CHAPTER, ON BEHALF OF AN
UNAUTHORIZED FOREIGN OR ALIEN INSURER  DULY  LICENSED  TO  TRANSACT  THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11549-01-1

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