assembly Bill A2910

2019-2020 Legislative Session

Creates the health insurance guaranty fund

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Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to insurance
Jan 28, 2019 referred to insurance

Co-Sponsors

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Multi-Sponsors

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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

A2910 (ACTIVE) - Summary

Creates the health insurance guaranty fund.

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