Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 14, 2012 |
reported referred to ways and means |
Apr 02, 2012 |
referred to insurance |
Assembly Bill A9783
2011-2012 Legislative Session
Sponsored By
MORELLE
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2011-A9783 (ACTIVE) - Details
- See Senate Version of this Bill:
- S6808
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Insurance Law
- Laws Affected:
- Add Art 58 ยงยง5801 - 5808, Ins L
2011-A9783 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9783 I N A S S E M B L Y April 2, 2012 ___________ 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 domestic excess line insurance companies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The insurance law is amended by adding a new article 58 to read as follows: ARTICLE 58 DOMESTIC EXCESS LINE INSURANCE COMPANIES SECTION 5801. PURPOSE AND APPLICABILITY OF ARTICLE. 5802. DEFINITIONS. 5803. ORGANIZATION AND APPROVAL. 5804. TAXATION. 5805. POLICY RATE AND FORMS. 5806. APPLICABILITY OF OTHER LAWS. 5807. EXEMPTIONS. 5808. MANDATORY DISCLOSURE NOTICE. S 5801. PURPOSE AND APPLICABILITY OF ARTICLE. THE PURPOSE OF THIS ARTICLE IS TO FACILITATE THE FORMATION AND OPERATION OF DOMESTIC EXCESS LINE INSURANCE COMPANIES WITHIN THE STATE OF NEW YORK. S 5802. DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "CERTIFICATE OF ELIGIBILITY" MEANS A WRITTEN AUTHORIZATION FROM THE SUPERINTENDENT PERMITTING A DOMESTIC EXCESS LINE INSURANCE COMPANY TO: (1) ENTER INSURANCE TRANSACTIONS THROUGH EXCESS LINE LICENSEES PROCUR- ING EXCESS LINE INSURANCE; (2) PROVIDE INDEPENDENTLY PROCURED INSURANCE TO THE EXTENT PERMITTED BY LAW; AND (3) CONDUCT AN EXCESS LINE AND/OR SURPLUS LINE BUSINESS IN ANY OTHER STATE WHICH GRANTS THE INSURER ELIGIBILITY. (B) "DOMESTIC EXCESS LINE INSURANCE COMPANY" MEANS: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14540-02-2
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