Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 25, 2010 |
referred to insurance |
Assembly Bill A10426
2009-2010 Legislative Session
Sponsored By
MCKEVITT
Archive: Last Bill Status - In Assembly Committee
- 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
co-Sponsors
David McDonough
Michael Montesano
multi-Sponsors
Nelson Castro
Jane Corwin
Brian Kolb
Joseph Saladino
2009-A10426 (ACTIVE) - Details
2009-A10426 (ACTIVE) - Sponsor Memo
BILL NUMBER:A10426 TITLE OF BILL: An act to repeal section 7718 of the insurance law, relating to the prohibited advertisement of the corporation in sale of insurance SUMMARY OF SPECIFIC PROVISIONS: Section 1. Section 7718 of the insur- ance law is repealed. JUSTIFICATION: The purpose of the Life Insurance Company Guaranty Corporation of New York is to provide funds to protect resident policy owners, insureds, beneficiaries, annuitants, payees and assignees of life insurance policies, health insurance policies, annuity contracts, funding agreements and supplemental contracts issued by life insurance companies, subject to certain limitations, against failure in the performance of contractual obligations due to the impairment or insol- vency of the insurer issuing such policies or contracts. However, due to section 7718 of the insurance law, it is prohibited to share this information with the consumer. Those advising their clients should be allowed to share this information with their clients to insure that safeguards are in place to protect consumers. PRIOR LEGISLATIVE HISTORY: New Bill
2009-A10426 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10426 I N A S S E M B L Y March 25, 2010 ___________ Introduced by M. of A. McKEVITT -- read once and referred to the Commit- tee on Insurance AN ACT to repeal section 7718 of the insurance law, relating to the prohibited advertisement of the corporation in sale of insurance THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 7718 of the insurance law is REPEALED. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16608-01-0
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