Legislation
SECTION 409
Reports
Financial Services Law (FIS) CHAPTER 18-A, ARTICLE 4
§ 409. Reports. (a) Whenever the superintendent is satisfied that a
violation subject to section four hundred eight or four hundred eight-a
of this article or fraud or other criminal activity under the insurance
law or banking law has been committed or attempted, the superintendent
shall report any such violation of law, as the superintendent deems
appropriate, to the appropriate licensing agency, the district attorney
of the county in which such acts were committed, to the attorney
general, and where appropriate, to the person who submitted the report
of fraudulent activity, as provided by the provisions of this article.
Within one hundred twenty days of receipt of the superintendent's
report, the attorney general or the district attorney concerned shall
inform the superintendent as to the status of the reported violations.
(b) No later than March fifteenth of each year, beginning in two
thousand twelve, the superintendent shall furnish to the governor, the
speaker of the assembly and the temporary president of the senate a
report describing the activities of the financial frauds and consumer
protection unit. Such report shall describe (1) the unit's efforts with
respect to (A) frauds against entities regulated under the banking and
insurance laws; and (B) frauds against consumers; (2) the unit's
activities to address consumer complaints; and (3) any recommendations
of the superintendent with respect to changes of law that are desirable
to address gaps in protection. The report may address such other matters
relating to the activities of the financial frauds and consumer
protection unit as the superintendent believes will be useful to the
governor or the legislature.
(c) No later than March fifteenth of each year beginning in the year
two thousand twelve, the superintendent shall submit to the governor,
the state comptroller, the attorney general, the temporary president of
the senate, the speaker of the assembly, the chairpersons of the senate
finance and health committees, and the assembly ways and means and
health committees, a report summarizing the department's activities to
investigate and combat health insurance fraud including information
regarding referrals received, investigations initiated, investigations
completed, and any other material necessary or desirable to evaluate the
department's efforts.
violation subject to section four hundred eight or four hundred eight-a
of this article or fraud or other criminal activity under the insurance
law or banking law has been committed or attempted, the superintendent
shall report any such violation of law, as the superintendent deems
appropriate, to the appropriate licensing agency, the district attorney
of the county in which such acts were committed, to the attorney
general, and where appropriate, to the person who submitted the report
of fraudulent activity, as provided by the provisions of this article.
Within one hundred twenty days of receipt of the superintendent's
report, the attorney general or the district attorney concerned shall
inform the superintendent as to the status of the reported violations.
(b) No later than March fifteenth of each year, beginning in two
thousand twelve, the superintendent shall furnish to the governor, the
speaker of the assembly and the temporary president of the senate a
report describing the activities of the financial frauds and consumer
protection unit. Such report shall describe (1) the unit's efforts with
respect to (A) frauds against entities regulated under the banking and
insurance laws; and (B) frauds against consumers; (2) the unit's
activities to address consumer complaints; and (3) any recommendations
of the superintendent with respect to changes of law that are desirable
to address gaps in protection. The report may address such other matters
relating to the activities of the financial frauds and consumer
protection unit as the superintendent believes will be useful to the
governor or the legislature.
(c) No later than March fifteenth of each year beginning in the year
two thousand twelve, the superintendent shall submit to the governor,
the state comptroller, the attorney general, the temporary president of
the senate, the speaker of the assembly, the chairpersons of the senate
finance and health committees, and the assembly ways and means and
health committees, a report summarizing the department's activities to
investigate and combat health insurance fraud including information
regarding referrals received, investigations initiated, investigations
completed, and any other material necessary or desirable to evaluate the
department's efforts.