senate Bill S642

Signed By Governor
2019-2020 Legislative Session

Relates to the issuance of broad form coverage by the joint underwriting association

download bill text pdf

Sponsored By

Current Bill Status - Signed by Governor


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

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 03, 2019 signed chap.70
Jun 28, 2019 delivered to governor
Feb 26, 2019 returned to senate
passed assembly
ordered to third reading cal.43
substituted for a3676
Feb 11, 2019 referred to insurance
delivered to assembly
passed senate
Jan 28, 2019 advanced to third reading
Jan 23, 2019 2nd report cal.
Jan 22, 2019 1st report cal.21
Jan 09, 2019 referred to insurance

S642 (ACTIVE) - Details

See Assembly Version of this Bill:
A3676
Law Section:
Insurance Law
Laws Affected:
Amd §5402, Ins L

S642 (ACTIVE) - Summary

Extends authorization for the issuance of broad form coverage.

S642 (ACTIVE) - Sponsor Memo

S642 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   642

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2019
                               ___________

Introduced  by  Sen. BRESLIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend the insurance law, in relation to the issuance of  broad
  form coverage by the joint underwriting association

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subsection (g) of section 5402 of  the  insurance  law,  as
amended  by  chapter  542  of  the  laws  of 2013, is amended to read as
follows:
  (g) In addition to fire insurance,  extended  coverage,  coverage  for
additional  perils  and  homeowners  insurance  should  the same be made
available through the association in accordance with a determination  of
necessity  pursuant to section five thousand four hundred twelve of this
article, the association may offer broad  form  coverage  to  applicants
seeking to insure real property at fixed locations of this state, or the
tangible  personal  property  located thereon. The association may offer
broad form coverage for a period of [ten]  FIFTEEN  years  beginning  on
June  thirtieth,  two  thousand  eight.  On or before October first, two
thousand seventeen the superintendent shall require the  association  to
report  to  him  or her as to the number of policies written pursuant to
this subsection and paragraph three of subsection (f)  of  section  five
thousand  four  hundred  five of this article, and any other information
the superintendent may require. On or before January first, two thousand
eighteen, the superintendent shall report to the governor and the legis-
lature regarding the number of policies issued pursuant to this  section
and such paragraph and shall include recommendations as to the continua-
tion of such insurance offerings.
  § 2. This act shall take effect immediately; provided, however that if
this act shall not have become a law on or before June 30, 2018, section
one of this act shall be deemed to have been in full force and effect on
and after June 30, 2018.

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