Assembly Bill A10952

2019-2020 Legislative Session

Removes certain bonding requirements for independent insurance adjusters

download bill text pdf

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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

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2019-A10952 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §2108, Ins L
Versions Introduced in 2021-2022 Legislative Session:
A3994

2019-A10952 (ACTIVE) - Summary

Removes certain bonding requirements for independent insurance adjusters.

2019-A10952 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10952
 
                           I N  A S S E M B L Y
 
                              August 17, 2020
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Cusick) --
   read once and referred to the Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to removing  the  bonding
   requirement for independent adjusters
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph 1 of subsection (l) of section 2108 of the insur-
 ance law is amended to read as follows:
   (1) No adjuster's license or renewal license, OTHER THAN AN  INDEPEND-
 ENT  ADJUSTER'S  LICENSE,  shall be issued to any applicant unless there
 shall be on file with the superintendent OF FINANCIAL SERVICES  a  bond,
 executed  by such [the] applicant and by approved sureties, in the penal
 sum of one thousand dollars conditioned on the faithful  performance  by
 such  licensee  and by all sub-licensees named in such license, of their
 duties as such adjusters.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16746-01-0

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