Assembly Bill A2910

2019-2020 Legislative Session

Creates the health insurance guaranty fund

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

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2019-A2910 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§7402, 7403, 7405, add Art 81 §§8101 - 8104, Ins L; amd §72, add §97-yyyy, St Fin L
Versions Introduced in Other Legislative Sessions:
2015-2016: A9311
2017-2018: A4328
2021-2022: A912
2023-2024: A7153

2019-A2910 (ACTIVE) - Summary

Creates the health insurance guaranty fund.

2019-A2910 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2910
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 28, 2019
                                ___________
 
 Introduced by M. of A. GOTTFRIED, BUCHWALD, STIRPE, HEVESI, ENGLEBRIGHT,
   FAHY,  SEAWRIGHT,  SIMOTAS,  BENEDETTO,  MAGNARELLI,  WEPRIN,  THIELE,
   RODRIGUEZ, PAULIN, BRAUNSTEIN, CUSICK, JAFFEE,  OTIS,  COLTON,  QUART,
   RAIA,   GALEF,  JEAN-PIERRE,  PEOPLES-STOKES,  HUNTER,  STECK,  PERRY,
   ABINANTI, D. ROSENTHAL, LAVINE, L. ROSENTHAL, DICKENS,  WRIGHT,  ORTIZ
   --  Multi-Sponsored  by  --  M.  of  A. COOK, EPSTEIN, GLICK, LUPARDO,
   PICHARDO, SIMON, SOLAGES -- read once and referred to the Committee on
   Insurance
 
 AN ACT to amend the insurance law and the state finance law, in relation
   to creating the health insurance guaranty fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.    Subsection  (e) of section 7402 of the insurance law is
 amended to read as follows:
   (e) Is found, after examination, to be  in  such  condition  that  its
 further  transaction of business will be hazardous to its policyholders,
 creditors, or the public.   THIS SHALL  INCLUDE  A  HEALTH  INSURER,  AS
 DEFINED  IN  ARTICLE  EIGHTY-ONE  OF  THIS CHAPTER, THAT IS CONSISTENTLY
 UNABLE TO MEET THE REQUIREMENTS OF SECTION THREE  THOUSAND  TWO  HUNDRED
 TWENTY-FOUR-A OF THIS CHAPTER.
   §  2.  Section  7403  of  the insurance law is amended by adding a new
 subsection (e) to read as follows:
   (E)(1) UPON A DETERMINATION BY THE SUPERINTENDENT AND THE  REHABILITA-
 TOR  THAT  FUNDS  FROM THE NEW YORK HEALTH INSURANCE CONSUMER PROTECTION
 SECURITY FUND ARE NECESSARY TO MEET THE REQUIREMENTS OF ARTICLE  EIGHTY-
 ONE  OF THIS CHAPTER, THE SUPERINTENDENT SHALL MAKE AVAILABLE SUCH FUNDS
 AS ARE NECESSARY, PURSUANT TO THE REQUIREMENTS OF SUCH ARTICLE.
   (2) THE SUPERINTENDENT SHALL ADVANCE SUCH FUNDS AS  MAY  BE  NECESSARY
 PURSUANT TO SUBSECTION (D) OF SECTION EIGHT THOUSAND ONE HUNDRED FOUR OF
 THIS CHAPTER. THE REHABILITATOR AND THE SUPERINTENDENT SHALL ESTABLISH A
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03498-01-9
              

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