Legislation
SECTION 101-A
Legislative findings and determinations
Financial Services Law (FIS) CHAPTER 18-A, ARTICLE 1
§ 101-a. Legislative findings and determinations. The legislature
finds and determines that the banking, insurance and financial services
industries constitute a critical sector of New York state's economy.
The legislature also finds and determines that responsive, effective,
innovative, state banking and insurance regulation is necessary to
operate in a global, evolving and competitive market place.
The legislature additionally finds and determines that this
legislation is necessary to modernize and transform the present state
banking department and state insurance department into a new integrated
department of financial services.
finds and determines that the banking, insurance and financial services
industries constitute a critical sector of New York state's economy.
The legislature also finds and determines that responsive, effective,
innovative, state banking and insurance regulation is necessary to
operate in a global, evolving and competitive market place.
The legislature additionally finds and determines that this
legislation is necessary to modernize and transform the present state
banking department and state insurance department into a new integrated
department of financial services.