|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to insurance|
|Jan 29, 2013||referred to insurance|
senate Bill S3064
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3064 - Details
S3064 - Summary
Removes requirement for advertisements referring to an insurer to include the insurer's full name and principal office and makes technical corrections relating thereto.
S3064 - Sponsor Memo
BILL NUMBER:S3064 TITLE OF BILL: An act to amend the insurance law, in relation to remov- ing the requirement for advertisements referring to an insurer to include the insurer's full name and principal office and making techni- cal corrections related thereto PURPOSE: The bill would amend the insurance law by deleting the require- ment for advertisements referring to an insurer to include the insurer's full name and principal office. SUMMARY OF PROVISIONS: Section 1 of the bill deletes the requirement in Section 2122(b) of the Insurance Law for agents and brokers to display the insurer's full name and the name of the city, town or village of its principal office in advertisements that refer to an insurer Section 2 is the effective date JUSTIFICATION: The bill modernizes the Insurance Law by removing outdated, burdensome, and unnecessary requirements related to advertise- ments by insurance producers. Section 1 removes an outdated provision of the Insurance Law requiring that when producers use advertisements that refer to an insurer, the advertisement must display the insurer's full name and the name of the city, town or village of the insurer's principal office. This outdated
S3064 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3064 2013-2014 Regular Sessions I N S E N A T E January 29, 2013 ___________ 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 removing the require- ment for advertisements referring to an insurer to include the insur- er's full name and principal office and making technical corrections related thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 2122 of the insurance law is amended to read as follows: S 2122. Advertising by insurance agents and brokers. (a) [(1)] No insurance agent or insurance broker shall make or issue in this state any advertisement, sign, pamphlet, circular, card or other public announcement purporting to make known the financial condition of any insurer, unless the same shall conform to the requirements of section one thousand three hundred thirteen of this chapter. [(2)] (B) No insurance agent, insurance broker or other person, shall, by any advertisement or public announcement in this state, call atten- tion to any unauthorized insurer or insurers. [(b) Every agent of any insurer and every insurance broker shall, in all advertisements, public announcements, signs, pamphlets, circulars and cards, which refer to an insurer, set forth therein the name in full of the insurer referred to and the name of the city, town or village in which it has its principal office in the United States.] S 2. Paragraph 5 of subsection (b) of section 1101 of the insurance law, as added by chapter 597 of the laws of 1999, is amended to read as follows: (5) Notwithstanding the foregoing, an unauthorized insurer, which (A) is affiliated with an insurer licensed in this state, and (B) has satis- fied all applicable requirements for placements by excess line brokers as set forth in section two thousand one hundred eighteen of this chap- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08142-01-3
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