Assembly Bill A8202

2013-2014 Legislative Session

Relates to the licensing of agents of authorized title insurance corporations; repealer

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


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

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2013-A8202 (ACTIVE) - Details

See Senate Version of this Bill:
S5923
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Rpld §2101 sub§ (k) ¶4, amd Ins L, generally

2013-A8202 (ACTIVE) - Summary

Relates to the licensing of agents of authorized title insurance corporations.

2013-A8202 (ACTIVE) - Bill Text download pdf

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

                                  8202

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            October 24, 2013
                               ___________

Introduced  by M. of A. CAHILL, MORELLE -- read once and referred to the
  Committee on Insurance

AN ACT to amend the insurance law,  in  relation  to  the  licensing  of
  agents  of  authorized  title  insurance  corporations;  and to repeal
  certain provisions of such law relating thereto

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

  Section  1. The opening paragraph of subsection (k) of section 2101 of
the insurance law, as added by chapter 687  of  the  laws  of  2003,  is
amended to read as follows:
  In  this article, "insurance producer" means an insurance agent, TITLE
INSURANCE AGENT,  insurance  broker,  reinsurance  intermediary,  excess
lines broker, or any other person required to be licensed under the laws
of  this  state to sell, solicit or negotiate insurance. Such term shall
not include:
  S 2. Paragraph 4 of subsection (k) of section 2101  of  the  insurance
law  is  REPEALED and paragraphs 5, 6, 7, 8, 9, 10, 11 and 12 are renum-
bered paragraphs 4, 5, 6, 7, 8, 9, 10 and 11.
  S 3. Section 2101 of the insurance law is  amended  by  adding  a  new
subsection (y) to read as follows:
  (Y)  (1) IN THIS CHAPTER, "TITLE INSURANCE AGENT" MEANS ANY AUTHORIZED
OR ACKNOWLEDGED AGENT OF A TITLE INSURANCE CORPORATION, WHICH  EVALUATES
THE  TITLE  SEARCH  TO  DETERMINE  INSURABILITY  OF  TITLE  AND PERFORMS
SUBSTANTIALLY ALL OF THE FOLLOWING FUNCTIONS:
  (A) PREPARES AND ISSUES A TITLE INSURANCE COMMITMENT OR CERTIFICATE OF
TITLE FOR THE PURPOSE OF ISSUING A TITLE INSURANCE POLICY;
  (B) CLEARS UNDERWRITING EXCEPTIONS IN CONNECTION WITH THE ISSUANCE  OF
A TITLE INSURANCE POLICY;
  (C)  ITSELF OR BY ITS DESIGNEE MARKS UP THE TITLE INSURANCE COMMITMENT
OR CERTIFICATE OF TITLE TO BIND A TITLE INSURANCE CORPORATION;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11674-01-3

              

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