Legislation

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This entry was published on 2014-09-22
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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.