Assembly Bill A7531

Signed By Governor
2017-2018 Legislative Session

Relates to election of directors of domestic mutual life insurance companies

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S2095 - Signed by Governor

  • 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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Votes

Bill Amendments

2017-A7531 - Details

Law Section:
Insurance Law
Laws Affected:
Amd §4210, Ins L

2017-A7531 - Summary

Permits alternate methods of voting in an uncontested election of directors of domestic mutual life insurance companies.

2017-A7531 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7531
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 1, 2017
                                ___________
 
 Introduced by M. of A. KAVANAGH -- read once and referred to the Commit-
   tee on Insurance
 
 AN  ACT to amend the insurance law, in relation to election of directors
   of domestic mutual life insurance companies
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Section  4210 of the insurance law is amended by adding a
 new subsection (n) to read as follows:
   (N) IN ADDITION TO THE PROCEDURES DESCRIBED IN THIS SECTION, A  DOMES-
 TIC  MUTUAL LIFE INSURANCE COMPANY MAY, UPON APPROVAL OF THE SUPERINTEN-
 DENT, OFFER POLICYHOLDERS ALTERNATE METHODS OF VOTING IN AN  UNCONTESTED
 ELECTION  AND  RECEIVING  MATERIALS RELATED THERETO, INCLUDING VIA ELEC-
 TRONIC MEANS. THE SUPERINTENDENT MAY APPROVE SUCH METHODS IF HE  OR  SHE
 FINDS  THAT THEY ARE CONSISTENT WITH THE REQUIREMENTS OF LAW AND EQUITA-
 BLE AND REASONABLE FOR THE COMPANY'S POLICYHOLDERS.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06790-01-7

co-Sponsors

2017-A7531A (ACTIVE) - Details

Law Section:
Insurance Law
Laws Affected:
Amd §4210, Ins L

2017-A7531A (ACTIVE) - Summary

Permits alternate methods of voting in an uncontested election of directors of domestic mutual life insurance companies.

2017-A7531A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7531--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 1, 2017
                                ___________
 
 Introduced by M. of A. KAVANAGH -- read once and referred to the Commit-
   tee  on  Insurance  --  committee  discharged,  bill  amended, ordered
   reprinted as amended and recommitted to said committee
 
 AN ACT to amend the insurance law, in relation to election of  directors
   of domestic mutual life insurance companies

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 4210 of the insurance law is amended  by  adding  a
 new subsection (n) to read as follows:
   (N)  IN ADDITION TO THE PROCEDURES DESCRIBED IN THIS SECTION, A DOMES-
 TIC MUTUAL LIFE INSURANCE COMPANY MAY, UPON APPROVAL OF THE  SUPERINTEN-
 DENT,  OFFER POLICYHOLDERS ALTERNATE METHODS OF VOTING IN AN UNCONTESTED
 ELECTION AND RECEIVING MATERIALS RELATED THERETO,  INCLUDING  VIA  ELEC-
 TRONIC  MEANS.  THE SUPERINTENDENT MAY APPROVE SUCH METHODS IF HE OR SHE
 FINDS THAT THEY ARE CONSISTENT WITH THE REQUIREMENTS OF LAW AND  EQUITA-
 BLE  AND REASONABLE FOR THE COMPANY'S POLICYHOLDERS.  THE SUPERINTENDENT
 MAY ISSUE SUCH RULES AND REGULATIONS AS HE OR  SHE  DEEMS  NECESSARY  TO
 IMPLEMENT THE PROVISIONS OF THIS SUBSECTION.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06790-04-7

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