|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 22, 2018||reported and committed to finance|
|Jan 03, 2018||referred to labor|
|Jan 04, 2017||referred to labor|
senate Bill S428
Archive: Last Bill Status - In Senate Committee Finance Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S428 (ACTIVE) - Details
S428 (ACTIVE) - Sponsor Memo
BILL NUMBER: S428 TITLE OF BILL : An act to amend the workers' compensation law, in relation to the requirement for policyholders to provide 30-days notice to withdraw from the state insurance fund PURPOSE : The bill would remove the requirement for State Insurance Fund policyholders to provide 30 days notice to withdraw from the Fund if they have secured coverage with another insurance carrier. SUMMARY OF PROVISIONS : Section 1. Amends section 94 of the workers' compensation law as it relates to removing the requirement of policyholders of the State Insurance Fund to provide 30 days notice of their intent to withdraw from the Fund for employers who have secured insurance with another insurance carrier. In the event that an employer secured another insurance policy, the employer shall have to provide notice to the Fund including intention to withdraw, demonstration they have secured a new insurance policy and the effective date of cancellation which shall be the date the new policy takes effect.
S428 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 428 2017-2018 Regular Sessions I N S E N A T E (PREFILED) January 4, 2017 ___________ Introduced by Sens. SEWARD, GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Labor AN ACT to amend the workers' compensation law, in relation to the requirement for policyholders 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. Subdivision a of section 94 of the workers' compensation law, as amended by chapter 635 of the laws of 1996, is amended to read as follows: a. Any employer may, upon complying with subdivision two or three of section fifty of this chapter, withdraw from the fund by turning in his insurance contract for cancellation, provided he has given written notice to the fund of his intention to withdraw not less than thirty days before the effective date of such cancellation. Upon receipt of such notice the fund shall, at least ten days prior to the effective date file in the office of the chairman a notice of such cancellation date. IN THE EVENT THAT AN EMPLOYER INTENDS TO WITHDRAW FROM THE FUND AND HAS SECURED INSURANCE WITH ANOTHER INSURANCE CARRIER, THE EMPLOYER SHALL PROVIDE WRITTEN NOTICE TO THE FUND WHICH SHALL INCLUDE THEIR INTENTION TO WITHDRAW, DEMONSTRATION THAT THE EMPLOYER HAS SECURED A NEW INSURANCE POLICY AND THE EFFECTIVE DATE OF CANCELLATION WHICH SHALL BE THE DATE OF WHEN SUCH OTHER COVERAGE BECOMES EFFECTIVE. [In no event shall the insurance contract be deemed cancelled until at least ten days after the date of such filing, any earlier date mentioned in the notice to the contrary notwithstanding.] If an employer withdraws from the fund upon complying with subdivision two of section fifty of this chapter, the new insurance contract with the stock corporation, mutual corporation or reciprocal insurer shall be EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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