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 |
May 16, 2012 |
vote reconsidered - restored to third reading 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 |
Apr 11, 2012 |
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 |
Senate Bill S2874
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status Via A8627 - Signed by Governor
- 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
Votes
Bill Amendments
2011-S2874 - Details
- See Assembly Version of this Bill:
- A8627
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§6603 & 6611, Ins L
2011-S2874 - Sponsor Memo
BILL NUMBER:S2874 TITLE OF BILL: 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 PURPOSE: Co-operative property/casualty insurance companies (co-ops) are exclusively domiciled here in New York. They write business that tends not to be offered by the larger national insurers and regional non-co-op insurance companies. This legislation is aimed at streamlining the corporate governing structure and operations of these co-ops to ensure that they continue to have the tools necessary to thrive and provide their unique insurance services in New York. SUMMARY OF PROVISIONS: Section 1. Amend Insurance Law section 6603(a) (5) (E) and (F) to streamline the minimum number of directors required for a co-operative property/casualty insurance company's board of directors from nine; to seven In addition, this proposed amendment to the law would clarify that a minority of the directors must be citizens and residents of the United States and at least one director of the co-operative property/casualty insurance corporation
2011-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
2011-S2874A - Details
- See Assembly Version of this Bill:
- A8627
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§6603 & 6611, Ins L
2011-S2874A - Sponsor Memo
BILL NUMBER:S2874A TITLE OF BILL: 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 PURPOSE: Co-operative property/casualty insurance companies (co-ops) are exclusively domiciled here in New York. They write business that tends not to be offered by the larger national insurers and regional non-co-op insurance companies. This legislation is aimed at streamlining the corporate governing structure and operations of these co-ops to ensure that they continue to have the tools necessary to thrive and provide their unique insurance services in New York. SUMMARY OF PROVISIONS: Section 1. Amends section 6603(a)(5)(E) and (F) of the insurance law to streamline the minimum number of directors required for a cooperative property/casualty insurance company's board of directors from nine to seven. In addition, this proposed amendment to the law would clarify that a majority of the directors must be citizens and residents of the United States and that not less than one director of the cooperative property/casualty insurance corporation shall be a New York resident.
2011-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
2011-S2874B (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8627
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§6603 & 6611, Ins L
2011-S2874B (ACTIVE) - Sponsor Memo
BILL NUMBER:S2874B TITLE OF BILL: 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 PURPOSE: Co-operative property/casualty insurance companies (co-ops) are exclusively domiciled here in New York. They write business that tends not to be offered by the larger national insurers and regional non-co-op insurance companies. This legislation is aimed at streamlining the corporate governing structure and operations of these co-ops to ensure that they continue to have the tools necessary to thrive and provide their unique insurance services in New York. SUMMARY OF PROVISIONS: Section 1. Amends section 6603(a) (5) (E) and (F) of the insurance law to streamline the minimum number of directors required for a co-operative property/casualty insurance company's board of directors from nine to seven. In addition, this proposed amendment to the law would clarify that a majority of the directors must be citizens and residents of the United States and that not less than one director of the cooperative property/casualty
2011-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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