assembly Bill A2904

2015-2016 Legislative Session

Removes the state insurance funds exemption from licensing and other requirements of the insurance law

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2016 referred to insurance
Jan 20, 2015 referred to insurance

A2904 (ACTIVE) - Details

See Senate Version of this Bill:
S254
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§1108 & 4522, Ins L; amd §§83 & 94, Work Comp L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1662
2011-2012: S3836
2013-2014: A9797, S6755
2017-2018: S4558

A2904 (ACTIVE) - Summary

Removes the state insurance fund's exemption from licensing and other requirements of the insurance law; requires the superintendent of insurance to approve the rules adopted by the state insurance fund for the conduct of its business; removes the requirement for policyholders to provide thirty days notice to withdraw from the state insurance fund.

A2904 (ACTIVE) - Bill Text download pdf

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

                                  2904

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2015
                               ___________

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

AN ACT to amend the insurance law, in relation to removing the exemption
  of  the state insurance fund from licensing and other requirements; to
  amend the workers' compensation law,  in  relation  to  requiring  the
  superintendent  of insurance to approve the rules adopted by the state
  insurance fund for the conduct of its business; and to amend the work-
  ers' compensation law, in relation to the requirement for  policyhold-
  ers  to  provide  30  days notice to withdraw from the state insurance
  fund

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

  Section  1.  Section  1108  of  the  insurance  law, subsection (c) as
amended by chapter 838 of the laws of 1985, subsection (j) as  added  by
section 2 of part R of chapter 56 of the laws of 2010, subsection (k) as
added  by  chapter  181  of the laws of 2012, subsection (l) as added by
chapter 246 of the laws  of  2012,  subsection  (l)  as  relettered  and
subsection  (m)  as  added  by  chapter  203  of  the  laws  of 2013 and
subsection (n) as added by chapter 454 of the laws of 2014,  is  amended
to read as follows:
  S  1108.  Insurers  exempt  from licensing and other requirements. The
following insurers, their officers, agents, representatives and  employ-
ees shall be exempt from licensing and other requirements imposed by the
provisions  of  this chapter (except article seventy-four hereof) to the
extent specified below:
  (a) Any charitable annuity society which complies  with  the  require-
ments  of  section  one thousand one hundred ten of this article, to the
extent therein stated.
  (b) Any fraternal benefit society,  membership  corporation  or  other
organization exempted under the provisions of article forty-five of this
chapter, to the extent therein stated.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03339-01-5

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.