senate Bill S4329A

Signed By Governor
2013-2014 Legislative Session

Relates to providing for increased efficiency for certain insurance regulations

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A7807 -


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

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 31, 2013 signed chap.238
Jul 19, 2013 delivered to governor
Jun 20, 2013 returned to assembly
passed senate
3rd reading cal.1483
substituted for s4329a
Jun 20, 2013 substituted by a7807a
ordered to third reading cal.1483
committee discharged and committed to rules
Jun 15, 2013 print number 4329a
amend and recommit to insurance
Mar 21, 2013 referred to insurance

S4329 - Details

See Assembly Version of this Bill:
A7807A
Law Section:
Insurance Law
Laws Affected:
Amd Ins L, generally

S4329 - Summary

Relates to providing for increased efficiency for certain insurance regulations.

S4329 - Sponsor Memo

S4329 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4329

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 21, 2013
                               ___________

Introduced  by Sen. SEWARD -- (at request of the Department of Financial
  Services) -- 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 enhancing regulatory
  efficiency and efficacy

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The insurance law is amended by adding a new section 302 to
read as follows:
  S 302. SUPERVISORY COLLEGES. (A) THE SUPERINTENDENT MAY PARTICIPATE IN
A SUPERVISORY COLLEGE IN ORDER TO DETERMINE COMPLIANCE WITH THIS CHAPTER
WITH  RESPECT  TO  AN  INSURER THAT IS REGISTERED UNDER ARTICLE FIFTEEN,
SIXTEEN, OR SEVENTEEN OF THIS CHAPTER AND HAS INTERNATIONAL  OPERATIONS.
THE  POWERS  OF  THE SUPERINTENDENT WITH RESPECT TO SUPERVISORY COLLEGES
INCLUDE:
  (1) INITIATING THE ESTABLISHMENT OF A SUPERVISORY COLLEGE;
  (2) CLARIFYING THE MEMBERSHIP AND PARTICIPATION OF  OTHER  SUPERVISORS
IN THE SUPERVISORY COLLEGE;
  (3)  CLARIFYING  THE FUNCTIONS OF THE SUPERVISORY COLLEGE AND THE ROLE
OF OTHER REGULATORS, INCLUDING THE ESTABLISHMENT OF A GROUP-WIDE  SUPER-
VISOR;
  (4)  COORDINATING  THE  ONGOING ACTIVITIES OF THE SUPERVISORY COLLEGE,
INCLUDING PLANNING MEETINGS, SUPERVISORY ACTIVITIES, AND  PROCESSES  FOR
INFORMATION SHARING; AND
  (5) ESTABLISHING A CRISIS MANAGEMENT PLAN.
  (B)  EACH INSURER REGISTERED UNDER ARTICLE FIFTEEN, SIXTEEN, OR SEVEN-
TEEN OF THIS CHAPTER SHALL BE LIABLE FOR AND SHALL  PAY  THE  REASONABLE
EXPENSES OF THE SUPERINTENDENT'S PARTICIPATION IN A SUPERVISORY COLLEGE,
INCLUDING  REASONABLE  TRAVEL  EXPENSES.  A  SUPERVISORY  COLLEGE MAY BE
CONVENED AS EITHER A TEMPORARY OR PERMANENT FORUM FOR THE  COMMUNICATION
AND  COOPERATION  BETWEEN THE REGULATORS CHARGED WITH THE SUPERVISION OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09114-04-3

S4329A (ACTIVE) - Details

See Assembly Version of this Bill:
A7807A
Law Section:
Insurance Law
Laws Affected:
Amd Ins L, generally

S4329A (ACTIVE) - Summary

Relates to providing for increased efficiency for certain insurance regulations.

S4329A (ACTIVE) - Sponsor Memo

S4329A (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 4329--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 21, 2013
                               ___________

Introduced  by Sen. SEWARD -- (at request of the Department of Financial
  Services) -- read twice and ordered printed, and when  printed  to  be
  committed  to the Committee on Insurance -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to amend the insurance law, in relation to enhancing regulatory
  efficiency and efficacy

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.    Subsection  (a) of section 110 of the insurance law, as
added by chapter 687 of the laws of 2003,  paragraph  1  as  amended  by
chapter 245 of the laws of 2004, is amended to read as follows:
  (a)  In  order  to  assist  in the performance of the superintendent's
duties under this chapter, the superintendent:
  (1) may share documents, materials  or  other  information,  including
[the]  confidential  and  privileged documents, materials or information
with other state, federal, and international regulatory  agencies,  with
the  National  Association of Insurance Commissioners, its affiliates or
subsidiaries, and with state, federal, and international law enforcement
authorities, INCLUDING MEMBERS OF ANY SUPERVISORY COLLEGE  DESCRIBED  IN
SECTION  THREE  HUNDRED TWO OF THIS CHAPTER, provided that the recipient
has the authority and agrees to maintain the confidentiality and  privi-
leged  status  of the document, material or other information; provided,
however, that this paragraph shall not be construed as  limiting  access
to records pursuant to article six of the public officers law;
  (2)  may receive documents, materials or information, including other-
wise confidential and privileged documents,  materials  or  information,
from the National Association of Insurance Commissioners, its affiliates
or  subsidiaries  and  from  regulatory and law enforcement officials of
other foreign or domestic jurisdictions, INCLUDING MEMBERS OF ANY SUPER-
VISORY COLLEGE DESCRIBED IN SECTION THREE HUNDRED TWO OF  THIS  CHAPTER,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09114-08-3

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