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Assembly Bill A10211

2017-2018 Legislative Session

Relates to requests for unclaimed life insurance benefits

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Archive: Last Bill Status - In Assembly Committee

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2017-A10211 (ACTIVE) - Details

See Senate Version of this Bill:
S7393
Current Committee:
Assembly Rules
Law Section:
Insurance Law
Laws Affected:
Amd §3240, Ins L
Versions Introduced in 2019-2020 Legislative Session:
A3075, S3637

2017-A10211 (ACTIVE) - Summary

Amends certain time frames for action by insurers relating to requests for unclaimed life insurance through the lost policy finder.

2017-A10211 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10211
 
                           I N  A S S E M B L Y
 
                              March 26, 2018
                                ___________
 
 Introduced by M. of A. HUNTER -- read once and referred to the Committee
   on Insurance
 
 AN  ACT to amend the insurance law, in relation to unclaimed life insur-
   ance benefits
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The opening paragraph of paragraph 4 of subsection (h) of
 section 3240 of the insurance law, as amended by chapter 10 of the  laws
 of 2013, is amended to read as follows:
   Within  [thirty]  SIXTY  days  of  receiving the request referenced in
 paragraph two of this subsection[, or within forty-five days of  receiv-
 ing the request where the insurer contracts with another entity to main-
 tain the insurer's records,] the insurer shall:
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13951-01-7

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