Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 17, 2011 |
signed chap.445 |
Aug 05, 2011 |
delivered to governor |
Jun 21, 2011 |
returned to assembly passed senate 3rd reading cal.1437 substituted for s5540 |
Jun 21, 2011 |
substituted by a7908 ordered to third reading cal.1437 |
Jun 11, 2011 |
committee discharged and committed to rules |
Jun 01, 2011 |
referred to labor |
Senate Bill S5540
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status Via A7908 - 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
co-Sponsors
(R, C, IP) Senate District
2011-S5540 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7908
- Law Section:
- Workers' Compensation Law
- Laws Affected:
- Amd ยง99, Work Comp L
2011-S5540 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5540 TITLE OF BILL: An act to amend the workers' compensation law, in relation to requiring the state insurance fund to file annual audited financial statements with the office of the state comptroller PURPOSE: Requires the State Insurance Fund to file annual audited financial statements with the Office of the State Comptroller. SUMMARY OF PROVISIONS: Section 1 amends Section 99 of the Workers' Compensation Law to require the State Insurance Fund to annually file with the Office of the State Comptroller, on or before June fifteenth, financial statements audited by an independent auditor. Section 2 provides for an effective date of the first of January next succeeding the date on which it shall have become a law. JUSTIFICATION: The Bureau of Financial Reporting has concluded that the Government Accounting Standards Board considers the State Insurance Fund (SIF) a component unit of the State of New York
2011-S5540 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5540 2011-2012 Regular Sessions I N S E N A T E June 1, 2011 ___________ Introduced by Sen. SEWARD -- (at request of the State Comptroller) -- read twice and ordered printed, and when printed to be committed to the Committee on Labor AN ACT to amend the workers' compensation law, in relation to requiring the state insurance fund to file annual audited financial statements with the office of the state comptroller THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 99 of the workers' compensation law, as amended by chapter 805 of the laws of 1984, is amended to read as follows: S 99. Reports of state insurance fund[; examination by insurance department]. 1. The commissioners shall make separate reports to the superintendent of insurance concerning the state insurance fund at the same time and in the same manner as is required from mutual employer's liability and workers' compensation corporations by section three hundred seven of the insurance law, and the superintendent of insurance may examine into the condition of such state insurance fund at any time, either personally or by any duly authorized examiner appointed by him for the purpose of determining the condition of the investments and the adequacy of the reserves of such fund and such other matters as shall be in the jurisdiction of the superintendent of insurance. 2. THE COMMISSIONERS SHALL FILE ANNUALLY WITH THE STATE COMPTROLLER, ON OR BEFORE JUNE FIFTEENTH, FINANCIAL STATEMENTS FOR THE STATE INSUR- ANCE FUND AUDITED BY AN INDEPENDENT AUDITOR. SUCH STATEMENTS SHALL BE PREPARED IN THE SAME MANNER AS REPORTS FILED WITH THE SUPERINTENDENT OF INSURANCE UNDER SUBDIVISION ONE OF THIS SECTION. A COPY OF THE INDEPEND- ENT AUDITOR'S REPORT SHALL ACCOMPANY ANY FINANCIAL STATEMENTS SUBMITTED PURSUANT TO THIS SUBDIVISION. S 2. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11123-01-1
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