|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 03, 2018||referred to insurance|
|Jun 16, 2017||referred to insurance|
assembly Bill A8471
Archive: Last Bill Status - In Assembly Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
A8471 (ACTIVE) - Details
- See Senate Version of this Bill:
- Current Committee:
- Assembly Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §§1108 & 4522, Ins L; amd §§83, 94, 89 & 76, Work Comp L
- Versions Introduced in Other Legislative Sessions:
A8471 (ACTIVE) - Summary
Removes the state insurance fund's exemption from licensing and other requirements of the insurance law; requires the superintendent of financial services 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.
A8471 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8471 2017-2018 Regular Sessions I N A S S E M B L Y June 16, 2017 ___________ 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; 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; and to permit the state insurance fund to compensate licensed insurance brokers for services provided to clients insured by the 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 section 38 of part SS of chapter 54 of the laws of 2016, 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 (k) as added by chapter 246 of the laws of 2012 and subsection (n) as added by chapter 454 of the laws of 2014, is amended to read as follows: § 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.
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