Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 15, 2020 |
referred to insurance |
Assembly Bill A10820
2019-2020 Legislative Session
Sponsored By
MCDONALD
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
Actions
co-Sponsors
Sandy Galef
Inez E. Dickens
2019-A10820 (ACTIVE) - Details
- Current Committee:
- Assembly Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §6109, Ins L
- Versions Introduced in 2021-2022 Legislative Session:
-
A3466
2019-A10820 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10820 I N A S S E M B L Y July 15, 2020 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. McDonald) -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to authorizing the super- intendent of financial services to authorize the return of subscribing member operating reserve balances to members of a municipal insurance reciprocal THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (a) of section 6109 of the insur- ance law, as amended by chapter 433 of the laws of 2016, is amended to read as follows: (3) Notwithstanding the foregoing, the superintendent may, upon appli- cation from the attorney-in-fact: (A) approve other methods for accumulating such subscriber's operating reserve; or (B) permit the suspension of the accumulation of the operating reserve for a fiscal year provided that those earnings are returned to the subscriber in accordance with subparagraph (B) of paragraph two of subsection (c) of this section; OR (C) IN THE CASE OF A MUNICIPAL RECIPROCAL INSURER, AUTHORIZE THE RETURN OF ANY OUTSTANDING SUBSCRIBER OPERATING RESERVE BALANCE. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16889-01-0
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.