senate Bill S5236

Signed By Governor
2013-2014 Legislative Session

Relates to the joint underwriting association

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Sponsored By

Archive: Last Bill Status - Signed by Governor


  • 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
Dec 18, 2013 signed chap.542
Dec 06, 2013 delivered to governor
Jun 18, 2013 returned to senate
passed assembly
ordered to third reading rules cal.387
substituted for a7829a
referred to insurance
delivered to assembly
passed senate
ordered to third reading cal.1451
committee discharged and committed to rules
May 14, 2013 referred to insurance

Votes

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S5236 - Details

See Assembly Version of this Bill:
A7829A
Law Section:
Insurance Law
Laws Affected:
Amd ยง5402, Ins L

S5236 - Summary

Relates to the joint underwriting association.

S5236 - Sponsor Memo

S5236 - Bill Text download pdf

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

                                  5236

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              May 14, 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 the joint underwriting
  association

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

  Section  1.  Subsection  (g)  of section 5402 of the insurance law, as
amended by section 1 of part W of chapter 55 of the  laws  of  2013,  is
amended to read as follows:
  (g)  In  addition  to  fire insurance, extended coverage, coverage for
additional perils and homeowners  insurance  should  the  same  be  made
available  through the association in accordance with a determination of
necessity pursuant to section five thousand four hundred twelve of  this
article,  the  association  may  offer broad form coverage to applicants
seeking to insure real property at fixed locations of this state, or the
tangible personal property located thereon. The  association  may  offer
broad  form coverage for a period of ten years beginning on June thirti-
eth, two thousand eight. [The] ON OR BEFORE OCTOBER FIRST, TWO  THOUSAND
SEVENTEEN  THE superintendent shall require the association to report to
him or her [annually during that ten-year period] as to  the  number  of
policies  written  pursuant  to  this  subsection and paragraph three of
subsection (f) of section five thousand four hundred five of this  arti-
cle [in the previous year], and any other information the superintendent
may  require.  [The superintendent shall then report to the governor and
the legislature regarding the number of policies issued pursuant to this
subsection and such paragraph annually for the  first  nine  years  such
coverage is offered.] On or before January first, two thousand eighteen,
the superintendent shall [make a final, cumulative] report to the gover-
nor  and the legislature [which] REGARDING THE NUMBER OF POLICIES ISSUED
PURSUANT TO THIS SECTION AND SUCH PARAGRAPH AND shall include  recommen-
dations as to the continuation of such insurance offerings.
  S 2. This act shall take effect immediately.

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

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