Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 01, 2021 |
approval memo.53 signed chap.649 |
Nov 19, 2021 |
delivered to governor |
May 24, 2021 |
returned to senate passed assembly ordered to third reading rules cal.87 substituted for a3466 |
May 04, 2021 |
referred to insurance delivered to assembly passed senate |
Apr 28, 2021 |
advanced to third reading |
Apr 27, 2021 |
2nd report cal. |
Apr 26, 2021 |
1st report cal.740 |
Feb 02, 2021 |
referred to insurance |
Senate Bill S4112
Signed By Governor2021-2022 Legislative Session
Sponsored By
(D, WF) 46th Senate District
Archive: Last Bill Status - Signed by Governor
- 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
Actions
Votes
co-Sponsors
(D) Senate District
(R, C, IP) 54th Senate District
(R, C, IP, RFM) Senate District
2021-S4112 (ACTIVE) - Details
2021-S4112 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4112 SPONSOR: BRESLIN TITLE OF BILL: An act to amend the insurance law, in relation to authorizing the super- intendent of financial services to authorize the return of subscribing member operating reserve balances to members of a municipal insurance reciprocal SUMMARY OF SPECIFIC PROVISIONS: Amends paragraph 3 of subsection (a) of section 6109 of the insurance law to allow municipal reciprocal insurers to authorize the return of any outstanding subscriber operating reserve balance. JUSTIFICATION: The New York Municipal Insurance Reciprocal (NYMIR) is a licensed prop- erty and casualty insurance program formed in 1993 in order to provide essential property and liability coverage for New York's general-purpose
2021-S4112 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4112 2021-2022 Regular Sessions I N S E N A T E February 2, 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 authorizing the super- intendent of financial services to authorize the return of subscribing member operating reserve balances to members of a municipal insurance reciprocal THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of subsection (a) of section 6109 of the insur- ance law, as amended by chapter 433 of the laws of 2016, is amended to read as follows: (3) Notwithstanding the foregoing, the superintendent may, upon appli- cation from the attorney-in-fact: (A) approve other methods for accumulating such subscriber's operating reserve; or (B) permit the suspension of the accumulation of the operating reserve for a fiscal year provided that those earnings are returned to the subscriber in accordance with subparagraph (B) of paragraph two of subsection (c) of this section; OR (C) IN THE CASE OF A MUNICIPAL RECIPROCAL INSURER, AUTHORIZE THE RETURN OF ANY OUTSTANDING SUBSCRIBER OPERATING RESERVE BALANCE. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01939-01-1
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