Assembly Bill A8471

2017-2018 Legislative Session

Removes the state insurance fund's exemption from licensing and other requirements of the insurance law

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2017-A8471 (ACTIVE) - Details

See Senate Version of this Bill:
S4558
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:
2009-2010: S1662
2011-2012: S3836
2013-2014: S6755
2015-2016: S254
2019-2020: A4356

2017-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.

2017-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.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.