Assembly Bill A9604

Signed By Governor
2013-2014 Legislative Session

Relates to funding for student health plans

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Archive: Last Bill Status - Signed by Governor

  • 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

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2013-A9604 (ACTIVE) - Details

See Senate Version of this Bill:
S7317
Law Section:
Insurance Law
Laws Affected:
Amd ยง1124, Ins L

2013-A9604 (ACTIVE) - Summary

Relates to funding for student health plans.

2013-A9604 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9604

                          I N  A S S E M B L Y

                               May 9, 2014
                               ___________

Introduced  by M. of A. MORELLE -- read once and referred to the Commit-
  tee on Insurance

AN ACT to amend the insurance law, in relation to  funding  for  student
  health plans

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subsection (m) of section 1124 of  the  insurance  law,  as
added by chapter 246 of the laws of 2012, is amended to read as follows:
  (m)(1)  [No part of any] ANY funds of the institution, as they pertain
to the student health plan, shall be [subject to the claims  of  general
creditors  of the institution] ACCOUNTED FOR SEPARATE AND APART FROM ALL
OTHER ASSETS, LIABILITIES, INCOME AND EXPENSES OF THE INSTITUTION  until
all  plan benefits and other plan obligations have been satisfied. Until
such time, the institution shall  continue  to  maintain  and  fund  the
reserve  funds  required  to be established under subsection (h) of this
section. If at any time the superintendent  determines  that  additional
funds  shall  be  deposited  in  the reserve funds, then the institution
shall make the deposit within [thirty] FIVE days of the superintendent's
determination.
  (2) If, after twenty-four months, or  such  longer  period  as  deemed
necessary  by the superintendent, all plan benefits and other plan obli-
gations have been satisfied,  the  institution,  upon  approval  by  the
superintendent,  shall  no  longer be required to maintain assets within
the plan's reserve funds within [restricted] accounts within the  insti-
tution's general accounting ledger system.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15047-01-4

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