Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 10, 2016 |
referred to insurance |
Assembly Bill A10640
2015-2016 Legislative Session
Sponsored By
CAHILL
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
Actions
2015-A10640 (ACTIVE) - Details
2015-A10640 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10640 I N A S S E M B L Y June 10, 2016 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Cahill) -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to permitting insurance brokers to engage in certain activities with respect to property and casualty insurance in New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (k) of section 2117 of the insurance law, as added by chapter 64 of the laws of 2015, is amended to read as follows: (k)(1) Notwithstanding subsection (a) of this section, any insurance broker licensed under subparagraph (A) of paragraph one of subsection (b) of section two thousand one hundred four of this article with respect to life insurance or annuities, [or] subparagraph (A) or (B) of paragraph one of subsection (b) of such section with respect to accident and health insurance, OR SUBPARAGRAPH (B) OF THIS PARAGRAPH WITH RESPECT TO PROPERTY/CASUALTY INSURANCE may engage in the activities specified in paragraph two of this subsection with respect to an alien insurer not authorized to do an insurance business in this state, provided that: (A) the activities relate to a policy or contract of group life, group annuity, [or] group accident and health insurance, OR PROPERTY/CASUALTY INSURANCE where the policyholder or proposed policyholder is a multina- tional entity resident outside the United States, the policy or contract covers the multinational entity's LIABILITIES, PROPERTIES, employees and their dependents, and the LIABILITIES, PROPERTIES AND employees reside outside of the United States, except that the policy or contract may provide coverage to employees who are temporarily inside the United States; (B) the policy or contract shall not be underwritten or negotiated in this state or issued or delivered in the United States; (C) the alien insurer is authorized to transact the kinds of insurance business in the jurisdictions where the policies or contracts will be issued or delivered and the policies or contracts are issued in conform- ance with the laws of such jurisdictions; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14591-01-6
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