senate Bill S7228

2013-2014 Legislative Session

Relates to assessment of certain title insurance corporations

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee

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

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view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 06, 2014 referred to insurance

S7228 - Details

See Assembly Version of this Bill:
Current Committee:
Law Section:
Financial Services

S7228 - Summary

Relates to assessment of certain title insurance corporations.

S7228 - Sponsor Memo

S7228 - Bill Text download pdf

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


                            I N  S E N A T E

                               May 6, 2014

Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT in relation to the creation of  the  title  insurance  assessment
  relief act


  Section 1. Title  insurance  assessment  relief  act.  Notwithstanding
section  206 of the financial services law, title insurance corporations
licensed under paragraph 18 of subsection (a) of  section  1113  of  the
insurance  law  and  domiciled  in  New  York state shall be assessed on
direct premiums written less amounts paid to or retained by title agents
in this state during the  calendar  year  ending  December  thirty-first
immediately  preceding  the end of the fiscal year for which the assess-
ment is made (less return premiums and considerations thereon) for poli-
cies or contracts of insurance covering title in this state the issuance
of which policies or contracts requires a license from  the  superinten-
dent of financial services.
  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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