Senate Bill S4694

2021-2022 Legislative Session

Relates to the requirement for policyholders to provide 30 days notice to withdraw from the state insurance fund

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Labor 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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2021-S4694 (ACTIVE) - Details

See Assembly Version of this Bill:
A1295
Current Committee:
Senate Labor
Law Section:
Workers' Compensation Law
Laws Affected:
Amd §94, Work Comp L
Versions Introduced in Other Legislative Sessions:
2015-2016: S5250, A7742
2017-2018: S428, A1598
2019-2020: S3516, A4350
2023-2024: S2834, A3061

2021-S4694 (ACTIVE) - Summary

Relates to the requirement for policyholders to provide notice to withdraw from the state insurance fund.

2021-S4694 (ACTIVE) - Sponsor Memo

2021-S4694 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4694
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 9, 2021
                                ___________
 
 Introduced  by  Sens. BRESLIN, GALLIVAN, JORDAN, MAYER -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Labor
 
 AN  ACT  to  amend  the  workers'  compensation  law, in relation to the
   requirement for policyholders to provide 30-days  notice  to  withdraw
   from the state insurance fund

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision a of section 94 of  the  workers'  compensation
 law,  as  amended by chapter 635 of the laws of 1996, is amended to read
 as follows:
   a.  Any employer may, upon complying with subdivision two or three  of
 section  fifty of this chapter, withdraw from the fund by turning in his
 insurance contract for  cancellation,  provided  he  has  given  written
 notice  to  the  fund  of his intention to withdraw not less than thirty
 days before the effective date of such cancellation.   Upon  receipt  of
 such  notice  the  fund  shall, at least ten days prior to the effective
 date file in the office of the chairman a notice  of  such  cancellation
 date.
   In  no event shall the insurance contract be deemed cancelled until at
 least ten days after the date of such filing, any earlier date mentioned
 in the notice to the contrary notwithstanding.
   If an employer withdraws from the fund upon complying with subdivision
 two of section fifty of this chapter, the new  insurance  contract  with
 the stock corporation, mutual corporation or reciprocal insurer shall be
 deemed  not  to  take  effect  until the cancellation of such employer's
 contract with the state insurance fund has become effective.
   THE REQUIREMENTS OF THIS SUBDIVISION SHALL NOT APPLY WHEN AN  EMPLOYER
 HAS GIVEN WRITTEN NOTICE TO THE FUND OF HIS INTENTION TO WITHDRAW, WHICH
 SHALL INCLUDE THE EFFECTIVE DATE OF SUCH CANCELLATION AND PROOF THAT THE
 EMPLOYER  HAS  COMPLIED  WITH  SUBDIVISION  TWO OF SECTION FIFTY OF THIS

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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