assembly Bill A9797

2013-2014 Legislative Session

Removes the state insurance funds exemption from licensing and other requirements of the insurance law

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 22, 2014 referred to insurance

A9797 (ACTIVE) - Details

See Senate Version of this Bill:
S6755
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§1108 & 4522, Ins L; amd §§83 & 94, Work Comp L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1662
2011-2012: S3836
2015-2016: A2904, S254
2017-2018: S4558

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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