Senate Bill S820

2019-2020 Legislative Session

Relates to amending the general business law, insurance law, and public health law regarding preneed insurance premiums

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Consumer Protection 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

2019-S820 (ACTIVE) - Details

See Assembly Version of this Bill:
A7301
Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Amd §453, Gen Bus L; amd §§107 & 3208, Ins L; amd §3450, Pub Health L
Versions Introduced in Other Legislative Sessions:
2017-2018: S6143, A7838
2021-2022: S5610, A6995
2023-2024: S4605

2019-S820 (ACTIVE) - Summary

Relates to preneed insurance premiums.

2019-S820 (ACTIVE) - Sponsor Memo

2019-S820 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    820
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2019
                                ___________
 
 Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Consumer Protection
 
 AN ACT to amend the general business law,  the  insurance  law  and  the
   public health law, in relation to preneed insurance; and providing for
   the repeal of such provisions upon expiration thereof

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 1 of section 453 of the gener-
 al business law, as amended by chapter 557  of  the  laws  of  2001,  is
 amended to read as follows:
   (a)  Any  and  all  moneys  paid  to a funeral firm, funeral director,
 undertaker, cemetery, or any other person, firm or corporation, under or
 in connection with an agreement, or any option to enter into  an  agree-
 ment, for the sale of merchandise to be used in connection with a funer-
 al  or  burial,  or for the furnishing of personal services of a funeral
 director or undertaker, wherein the merchandise is not  to  be  actually
 physically  delivered  or  the  personal services are not to be rendered
 until the occurrence of the death of the person  for  whose  funeral  or
 burial  such  merchandise or services are to be furnished shall continue
 to be the money of the person making such payment and shall be  held  in
 trust for such person by the funeral firm, funeral director, undertaker,
 cemetery  or  any other person, firm or corporation to whom such payment
 is made and shall, within ten business days of receipt, be deposited  in
 an  interest  bearing  account in a bank, national bank, federal savings
 bank, federal savings and loan association, savings  bank,  savings  and
 loan association, credit union, or federal credit union within the state
 and  duly  authorized  to  receive deposits in the state of New York and
 which shall earn interest at a rate which shall be at not less than  the
 prevailing rate of interest earned by other such deposits in such banks,
 savings  banks,  savings  and  loan associations, or credit unions under
 this section, or shall be placed in a trust  company  in  an  investment
 
  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.