S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7124
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 9, 2019
                                ___________
 
 Introduced by M. of A. CAHILL -- read once and referred to the Committee
   on Insurance
 
 AN  ACT  to  amend  the  insurance law and a chapter of the laws of 2018
   amending the insurance law relating to business entity license renewal
   dates, as proposed in legislative  bills  numbers  S.  6445-A  and  A.
   8484-A,  in  relation  to  registration  fees and continuing education
   requirements for license renewal
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 2 of subsection (j) of section 2103 of the insur-
 ance  law,  as  amended  by  a  chapter of the laws of 2018 amending the
 insurance law relating to business  entity  license  renewal  dates,  as
 proposed  in  legislative  bills  numbers  S.  6445-A  and A. 8484-A, is
 amended to read as follows:
   (2) Every license issued to a business entity pursuant  to  subsection
 (a)  of  this  section  shall  expire  on June thirtieth of odd numbered
 years.  Every license issued to a business entity pursuant to subsection
 (b) of this section shall expire  on  June  thirtieth  of  odd  numbered
 years.  On  and  after  January first, two thousand seven, every license
 issued pursuant to this section to an individual, and every  license  in
 effect prior to January first, two thousand seven that was issued pursu-
 ant  to  this  section to an individual, who was born in an odd numbered
 year, shall expire on the individual's birthday  in  each  odd  numbered
 year.  On  and  after  January  first, two thousand seven, every license
 issued pursuant to this section to an individual, and every  license  in
 effect prior to January first, two thousand seven that was issued pursu-
 ant  to  this section to an individual, who was born in an even numbered
 year, shall expire on the individual's birthday in  each  even  numbered
 year.  Every such license may be renewed for the ensuing period of twen-
 ty-four months upon the filing of an application in conformity with this
 subsection.   The superintendent may issue such rules and regulations as
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD07040-01-9

 A. 7124                             2
 
 the superintendent deems  necessary  to  implement  the  terms  of  this
 subsection  INCLUDING  REGULATIONS  PROVIDING THAT, PRIOR TO JULY FIRST,
 TWO THOUSAND TWENTY-THREE, THE REGISTRATION FEES AND  CONTINUING  EDUCA-
 TION  REQUIREMENTS  FOR  THE RENEWAL OF ANY LICENSE ISSUED TO A BUSINESS
 ENTITY PURSUANT TO THIS SUBSECTION FOR A PERIOD THAT IS MORE THAN  TWEN-
 TY-FOUR MONTHS MAY BE INCREASED IN PROPORTION TO THE LENGTH OF THE PERI-
 OD OF LICENSURE.
   §  2.  Paragraph  1 of subsection (g) of section 2104 of the insurance
 law, as amended by a chapter of the laws of 2018 amending the  insurance
 law  relating  to  business entity license renewal dates, as proposed in
 legislative bills numbers S. 6445-A and A. 8484-A, is amended to read as
 follows:
   (1) Every insurance broker's license issued pursuant to  this  section
 to  a  business entity shall be for a term expiring on the thirtieth day
 of June of odd-numbered years.  On and after January first, two thousand
 seven, every license issued pursuant to this section to  an  individual,
 and  every  license in effect prior to January first, two thousand seven
 that was issued pursuant to this section to an individual, who was  born
 in  an  odd  numbered year, shall expire on the individual's birthday in
 each odd numbered year. On and after January first, two thousand  seven,
 every  license  issued  pursuant  to  this section to an individual, and
 every license in effect prior to January first, two thousand seven  that
 was issued pursuant to this section to an individual, who was born in an
 even  numbered  year,  shall expire on the individual's birthday in each
 even numbered year. Every such license may be renewed  for  the  ensuing
 period  of  twenty-four  months  upon  the  filing  of an application in
 conformity with this section. In the case of a license issued to  a  new
 applicant,  the  superintendent  may  issue a license for a term of more
 than two years, provided however, such  term  shall  not  exceed  thirty
 months.  The  superintendent may issue such rules and regulations as the
 superintendent deems necessary to implement the terms of this subsection
 INCLUDING REGULATIONS PROVIDING THAT, PRIOR TO JULY FIRST, TWO  THOUSAND
 TWENTY-THREE,  THE  REGISTRATION  FEES AND CONTINUING EDUCATION REQUIRE-
 MENTS FOR THE RENEWAL OF ANY LICENSE ISSUED TO A BUSINESS ENTITY  PURSU-
 ANT TO THIS SUBSECTION FOR A PERIOD THAT IS MORE THAN TWENTY-FOUR MONTHS
 MAY BE INCREASED IN PROPORTION TO THE LENGTH OF THE PERIOD OF LICENSURE.
   § 3. Section 3 of a chapter of the laws of 2018 amending the insurance
 law  relating  to  business entity license renewal dates, as proposed in
 legislative bills numbers S. 6445-A and A. 8484-A, is amended to read as
 follows:
   § 3. This act shall take effect on  July  1,  [2019]  2021;  effective
 immediately,  the  superintendent of financial services shall promulgate
 any rules and regulations necessary for the implementation of  this  act
 on or before such effective date.
   §  4.  This  act  shall  take  effect on the same date and in the same
 manner as a chapter of the laws  of  2018  amending  the  insurance  law
 relating to business entity license renewal dates, as proposed in legis-
 lative bills numbers S. 6445-A and A. 8484-A, takes effect.