|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 22, 2014||referred to insurance|
assembly Bill A9797
Archive: Last Bill Status - In Assembly Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
A9797 (ACTIVE) - Details
A9797 (ACTIVE) - Summary
Removes the state insurance fund's exemption from licensing and other requirements of the insurance law; requires the superintendent of insurance to approve the rules adopted by the state insurance fund for the conduct of its business; removes the requirement for policyholders to provide thirty days notice to withdraw from the state insurance fund.
A9797 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9797 I N A S S E M B L Y May 22, 2014 ___________ Introduced by M. of A. WEPRIN -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to removing the exemption of the state insurance fund from licensing and other requirements; to amend the workers' compensation law, in relation to requiring the superintendent of insurance to approve the rules adopted by the state insurance fund for the conduct of its business; and to amend the work- ers' compensation law, in relation to the requirement for policyhold- ers to provide 30 days notice to withdraw from the state insurance fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1108 of the insurance law, subsection (c) as amended by chapter 838 of the laws of 1985, subsection (j) as added by section 2 of part R of chapter 56 of the laws of 2010, subsection (k) as added by chapter 181 of the laws of 2012, subsection (l) as added by chapter 246 of the laws of 2012, subsection (l) as relettered and subsection (m) as added by chapter 203 of the laws of 2013, is amended to read as follows: S 1108. Insurers exempt from licensing and other requirements. The following insurers, their officers, agents, representatives and employ- ees shall be exempt from licensing and other requirements imposed by the provisions of this chapter (except article seventy-four hereof) to the extent specified below: (a) Any charitable annuity society which complies with the require- ments of section one thousand one hundred ten of this article, to the extent therein stated. (b) Any fraternal benefit society, membership corporation or other organization exempted under the provisions of article forty-five of this chapter, to the extent therein stated. [(c) The state insurance fund of this state, except as to the provisions of subsection (d) of section two thousand three hundred thir- ty-nine, section three thousand one hundred ten, subsection (a), para- graph one of subsection (b), paragraph three of subsection (c) and EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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