Senate Bill S5510

2015-2016 Legislative Session

In relation to replacement of an automobile which is determined to be a total loss

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance 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

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2015-S5510 (ACTIVE) - Details

See Assembly Version of this Bill:
A7649
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง3412, Ins L
Versions Introduced in 2017-2018 Legislative Session:
S4463

2015-S5510 (ACTIVE) - Summary

Relates to the right of an insured to find a substantially similar vehicle to replace a vehicle which is determined to be a total loss, within a regional area.

2015-S5510 (ACTIVE) - Sponsor Memo

2015-S5510 (ACTIVE) - Bill Text download pdf

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

                                  5510

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 14, 2015
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend the insurance law, in  relation  to  replacement  of  an
  automobile which is determined to be a total loss

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

  Section 1. Section 3412 of the insurance law is amended  by  adding  a
new subsection (i) to read as follows::
  (I)  WHENEVER AN INSURER DETERMINES A PRIVATE AUTOMOBILE TO BE A TOTAL
LOSS, THE INSURED SHALL HAVE THE RIGHT TO REPLACE THE AUTOMOBILE WITH  A
SUBSTANTIALLY SIMILAR VEHICLE THAT HE OR SHE LOCATES WITHIN THE REGIONAL
AREA  USING APPROVED VALUATION MANUALS IN DETERMINING THE VALUE OF VEHI-
CLES IN NEW YORK, PROVIDED THAT THE INSURED SHALL BEAR  ANY  TRANSPORTA-
TION COSTS IN OBTAINING SUCH VEHICLE.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11090-01-5


              

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