Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Mar 21, 2023 | referred to insurance delivered to assembly passed senate |
Mar 16, 2023 | advanced to third reading |
Mar 15, 2023 | 2nd report cal. |
Mar 13, 2023 | 1st report cal.479 |
Feb 07, 2023 | referred to insurance |
senate Bill S4354
Sponsored By
Neil D. Breslin
(D, WF) 46th Senate District
Current Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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S4354 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A4984
- Current Committee:
- Assembly Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §5, Chap 630 of 1988; amd §2130, Ins L
S4354 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4354 SPONSOR: BRESLIN TITLE OF BILL: An act to amend the insurance law, in relation to the examination of records maintained by the excess line association; and to amend chapter 630 of the laws of 1988, amending the insurance law relating to estab- lishing an excess line advisory organization, in relation to extending the effectiveness thereof PURPOSE: This bill would extend the statutory authority of the Excess Line Asso- ciation of New York ("ELANY") SUMMARY OF PROVISIONS: Section 1 of the bill would amend the language from Section 5 of Chapter 630 of the Laws of 1988, the enabling legislation for ELANY, to extend its "sunset" date of July 1, 2024 to July 1, 2029.
S4354 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4354 2023-2024 Regular Sessions I N S E N A T E February 7, 2023 ___________ 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 examination of records maintained by the excess line association; and to amend chap- ter 630 of the laws of 1988, amending the insurance law relating to establishing an excess line advisory organization, in relation to extending the effectiveness thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 5 of chapter 630 of the laws of 1988, amending the insurance law relating to establishing an excess line advisory organiza- tion, as amended by chapter 488 of the laws of 2018, is amended to read as follows: § 5. This act shall take effect January 1, 1989 and shall cease to be of any force or effect after July 1, [2024] 2029. § 2. Paragraph 1 of subsection (a) of section 2130 of the insurance law, as added by chapter 630 of the laws of 1988, is amended to read as follows: (1) receive and record all excess line insurance documents which excess line brokers are required to file with the association under section two thousand one hundred eighteen of this article. ALL RECORDS WHICH AN EXCESS LINE BROKER IS REQUIRED TO MAINTAIN UNDER SECTION TWO THOUSAND ONE HUNDRED EIGHTEEN OF THIS ARTICLE ARE SUBJECT TO EXAMINATION BY THE EXCESS LINE ASSOCIATION; § 3. Paragraph 11 of subsection (a) of section 2130 of the insurance law, as added by chapter 630 of the laws of 1988, is amended and a new paragraph 12 is added to read as follows: (11) provide such other services to its members as are incidental or related to the purposes of the association[.]; AND (12) UTILIZE THE AUTHORITY GRANTED TO UNINCORPORATED ASSOCIATIONS UNDER SECTION TWELVE OF THE GENERAL ASSOCIATIONS LAW. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08963-01-3
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