assembly Bill A4328

2017-2018 Legislative Session

Creates the health insurance guaranty fund

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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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to insurance
Feb 02, 2017 referred to insurance

Co-Sponsors

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Multi-Sponsors

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A4328 (ACTIVE) - Details

See Senate Version of this Bill:
S8316
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§7402, 7403, 7405, add Art 81 §§8101 - 8104, Ins L; amd §72, add §97-yyyy, St Fin L
Versions Introduced in Other Legislative Sessions:
2015-2016: A9311, S6667
2019-2020: A2910
2021-2022: A912

A4328 (ACTIVE) - Summary

Creates the health insurance guaranty fund.

A4328 (ACTIVE) - Bill Text download pdf


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

                                  4328

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            February 2, 2017
                               ___________

Introduced by M. of A. GOTTFRIED, BUCHWALD, STIRPE, HEVESI, ENGLEBRIGHT,
  FAHY,  SEAWRIGHT,  SIMOTAS,  SKOUFIS,  BENEDETTO,  MAYER,  MAGNARELLI,
  WEPRIN, THIELE, RODRIGUEZ, PAULIN, BRAUNSTEIN, CUSICK,  JAFFEE,  OTIS,
  COLTON,   QUART,  RAIA,  GRAF,  BRINDISI,  TITONE,  GALEF,  SEPULVEDA,
  JEAN-PIERRE, PEOPLES-STOKES, HUNTER, STECK, PERRY, KAVANAGH,  ABINANTI
  --  Multi-Sponsored  by  --  M. of A. COOK, GLICK, LUPARDO, LUPINACCI,
  PICHARDO, SIMON, SKARTADOS, SOLAGES -- read once and referred  to  the
  Committee on Insurance

AN ACT to amend the insurance law and the state finance law, in relation
  to creating the health insurance guaranty fund

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

  Section 1.  Subsection (e) of section 7402 of  the  insurance  law  is
amended to read as follows:
  (e)  Is  found,  after  examination,  to be in such condition that its
further transaction of business will be hazardous to its  policyholders,
creditors,  or  the  public.    THIS  SHALL INCLUDE A HEALTH INSURER, AS
DEFINED IN ARTICLE EIGHTY-ONE OF  THIS  CHAPTER,  THAT  IS  CONSISTENTLY
UNABLE  TO  MEET  THE REQUIREMENTS OF SECTION THREE THOUSAND TWO HUNDRED
TWENTY-FOUR-A OF THIS CHAPTER.
  § 2. Section 7403 of the insurance law is  amended  by  adding  a  new
subsection (e) to read as follows:
  (E)(1)  UPON A DETERMINATION BY THE SUPERINTENDENT AND THE REHABILITA-
TOR THAT FUNDS FROM THE NEW YORK HEALTH  INSURANCE  CONSUMER  PROTECTION
SECURITY  FUND ARE NECESSARY TO MEET THE REQUIREMENTS OF ARTICLE EIGHTY-
ONE OF THIS CHAPTER, THE SUPERINTENDENT SHALL MAKE AVAILABLE SUCH  FUNDS
AS ARE NECESSARY, PURSUANT TO THE REQUIREMENTS OF SUCH ARTICLE.
  (2)  THE  SUPERINTENDENT  SHALL ADVANCE SUCH FUNDS AS MAY BE NECESSARY
PURSUANT TO SUBSECTION (D) OF SECTION EIGHT THOUSAND ONE HUNDRED FOUR OF
THIS CHAPTER. THE REHABILITATOR AND THE SUPERINTENDENT SHALL ESTABLISH A

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02604-01-7