senate Bill S3573

2021-2022 Legislative Session

Relates to offering reward or incentive programs

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Insurance 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 05, 2022 referred to insurance
Jan 30, 2021 referred to insurance

S3573 (ACTIVE) - Details

See Assembly Version of this Bill:
A4329
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §4224, Ins L
Versions Introduced in 2019-2020 Legislative Session:
S5929, A9867

S3573 (ACTIVE) - Summary

Allows for insurance providers and corporations to create and offer reward or incentive programs to eligible members.

S3573 (ACTIVE) - Sponsor Memo

S3573 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3573
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 30, 2021
                                ___________
 
 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 offering of reward
   or incentive programs to eligible members
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subsection  (c)  of section 4224 of the insurance law, as
 amended by chapter 496 of the laws of  2013,  is  amended  and  two  new
 subsections (g) and (h) are added to read as follows:
   (c)  Except as permitted by section three thousand two hundred thirty-
 nine of this chapter or [subsection] SUBSECTIONS (f),  (G)  AND  (H)  of
 this  section,  no  such  life insurance company and no such savings and
 insurance bank and no officer, agent, solicitor or representative there-
 of and no such insurer doing in this state the business of accident  and
 health  insurance  and  no  officer,  agent, solicitor or representative
 thereof, and no licensed insurance  broker  and  no  employee  or  other
 representative of any such insurer, agent or broker, shall pay, allow or
 give,  or  offer  to  pay,  allow or give, directly or indirectly, as an
 inducement to any person to insure, or shall give, sell or purchase,  or
 offer  to  give, sell or purchase, as such inducement, or interdependent
 with any policy of life insurance or annuity contract or policy of acci-
 dent and health insurance, any stocks, bonds, or  other  securities,  or
 any  dividends or profits accruing or to accrue thereon, or any valuable
 consideration or inducement whatever not specified  in  such  policy  or
 contract other than any valuable consideration, including but not limit-
 ed to merchandise or periodical subscriptions, not exceeding twenty-five
 dollars  in  value; nor shall any person in this state knowingly receive
 as such inducement, any rebate of premium or policy fee or  any  special
 favor  or  advantage in the dividends or other benefits to accrue on any
 such policy or contract, or knowingly receive  any  paid  employment  or
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05981-01-1

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