NY State Senate Bill 2019-S2039

Senate Bill S2039

Signed By Governor

2019-2020 Legislative Session

Relates to registration fees and continuing education requirements for license renewal

download bill text pdf

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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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Aug 29, 2019	signed chap.200
Aug 23, 2019	delivered to governor
Jun 17, 2019	returned to senate passed assembly ordered to third reading rules cal.160 substituted for a7124
Feb 04, 2019	referred to insurance delivered to assembly passed senate
Jan 22, 2019	ordered to third reading cal.41
Jan 18, 2019	referred to rules

Votes

- Feb 4, 2019 - Floor Vote
  S2039
  
  62
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Feb 4, 2019
      
      aye (62)
      
      Addabbo Jr.
      
      Akshar
      
      Amedore
      
      Antonacci
      
      Bailey
      
      Benjamin
      
      Biaggi
      
      Boyle
      
      Brooks
      
      Carlucci
      
      Comrie
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gaughran
      
      Gianaris
      
      Gounardes
      
      Griffo
      
      Harckham
      
      Helming
      
      Hoylman-Sigal
      
      Jackson
      
      Jacobs
      
      Jordan
      
      Kaminsky
      
      Kaplan
      
      Kavanagh
      
      Kennedy
      
      Krueger
      
      LaValle
      
      Lanza
      
      Little
      
      Liu
      
      Martinez
      
      May
      
      Mayer
      
      Metzger
      
      Montgomery
      
      Myrie
      
      O'Mara
      
      Ortt
      
      Parker
      
      Persaud
      
      Ramos
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Salazar
      
      Sanders Jr.
      
      Savino
      
      Sepúlveda
      
      Serino
      
      Serrano
      
      Seward
      
      Skoufis
      
      Stavisky
      
      Stewart-Cousins
      
      Tedisco
      
      Thomas
      
      Young
      
      excused (1)
      
      Breslin
  Jan 22, 2019 - Rules Committee Vote
  S2039
  
  18
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jan 22, 2019
      
      aye (18)
      
      Benjamin
      
      Breslin
      
      Comrie
      
      Gianaris
      
      Griffo
      
      Hoylman-Sigal
      
      Kennedy
      
      Krueger
      
      LaValle
      
      Lanza
      
      Little
      
      Liu
      
      Martinez
      
      Parker
      
      Robach
      
      Savino
      
      Seward
      
      Stewart-Cousins
      
      excused (1)
      
      Flanagan

2019-S2039 (ACTIVE) - Details

See Assembly Version of this Bill:: A7124
Law Section:: Insurance Law
Laws Affected:: Amd §§2103 & 2104, Ins L; amd §3, Chap of 2018 (as proposed in S.6445-A & A.8484-A)

2019-S2039 (ACTIVE) - Summary

Relates to registration fees and continuing education requirements for license renewal.

2019-S2039 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S2039

SPONSOR: SEWARD
 
TITLE OF BILL:

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

 
PURPOSE:

This is a chapter amendment that makes changes to provisions of L.2018,
c.402, to change the effective date and allow the Department of Finan-
cial Services to promulgate regulations to facilitate the transition to
standardized license renewal dates for business entities

 
SUMMARY OF PROVISIONS:

Section 1 and Section 2 of the chapter amendment give the Superintendent

of the Department of Financial Services the authority to issue regu-
lations providing that, as part of the implementation of standardized
business entity licensure renewal dates, the registration fees and
continuing education requirements for the renewal of any license issued
to a business entity that is more than twenty-four months may be
increased in proportion to the length of the period of licensure.

Section 3 of the chapter amendment changes the effective date to July 1,
2021.

 
EXISTING LAW:

Section 2103 of the insurance law governs renewal dates for licensing of
insurance agents. Chapter 402 of the laws of 2018 standardized the dates
for renewals of business entity licenses for insurance brokers to June
thirtieth of odd-numbered years.

 
JUSTIFICATION:

Concerns were raised about the implementation of the original bill. As
the transition is made from license renewals on June 30th of odd-num-
bered years, October 31st of even-numbered years, and June 30th of even-
numbered years to one renewal on June 30th of odd-numbered years, some
licenses will be renewed for periods longer than the normal twenty-four
months. The chapter amendment allows the Department of Financial
Services to increase licensure fees and continuing education require-
ments during the transition period as needed in proportion to any longer
licensure periods.

 
LEGISLATIVE HISTORY:

Chapter amendment to Chapter 402 of the Laws of 2018. S.6445-A and
A.8484-A passed both the Senate and Assembly in June of 2018.

 
FISCAL IMPLICATIONS:

Unknown

 
EFFECTIVE DATE:
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 busi-
ness entity license renewal dates, as proposed in legislative bills
numbers S. 6445-A and A. 8484-A, takes effect.

2019-S2039 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2039
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 18, 2019
                                ___________
 
 Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 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

 S. 2039                             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.

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