Senate Bill S3505

Signed By Governor
2019-2020 Legislative Session

Relates to immunity from civil liability for certain information from the National Insurance Crime Bureau

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A3214 - 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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Bill Amendments

co-Sponsors

2019-S3505 - Details

Law Section:
Financial Services Law
Laws Affected:
Amd §405, Fin Serv L
Versions Introduced in Other Legislative Sessions:
2015-2016: S7572
2017-2018: S696

2019-S3505 - Summary

Relates to immunity from civil liability and information furnished to or from the National Insurance Crime Bureau, which is dedicated to the investigation and prosecution of the banking law or the insurance law.

2019-S3505 - Sponsor Memo

2019-S3505 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3505
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 8, 2019
                                ___________
 
 Introduced  by  Sens. BRESLIN, SEWARD -- read twice and ordered printed,
   and when printed to be committed to the Committee on Insurance
 
 AN ACT to amend the financial services law, in relation to immunity from
   civil liability for certain information relating to insurance or bank-
   ing violations

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  405  of the financial services law is amended to
 read as follows:
   § 405. Immunity. In the absence of  fraud  or  bad  faith,  no  person
 subject to the provisions of this chapter, the banking law or the insur-
 ance  law  shall  be  subject  to civil liability, and no civil cause of
 action of any nature shall arise against such person for any: (a) infor-
 mation relating to suspected violations of the banking law or the insur-
 ance law furnished  to  law  enforcement  officials,  their  agents  and
 employees; (b) information relating to suspected violations of the bank-
 ing  law  or the insurance law furnished to other persons subject to the
 provisions of this chapter; [and] (c) information furnished  in  reports
 to  the  financial  frauds  and  consumer protection unit, its agents or
 employees or any state agency investigating fraud or misconduct relating
 to financial  fraud,  its  agents  or  employees;  AND  (D)  INFORMATION
 FURNISHED TO OR FROM A NOT-FOR-PROFIT ORGANIZATION DEDICATED TO INVESTI-
 GATION  AND  ENFORCEMENT  OF  THE BANKING LAW OR THE INSURANCE LAW.  The
 superintendent or any employee of  the  financial  frauds  and  consumer
 protection  unit,  in  the  absence  of fraud or bad faith, shall not be
 subject to civil liability and no civil cause of action  of  any  nature
 shall arise against the superintendent or any such employee by virtue of
 the publication of any report or bulletin related to the official activ-
 ities  of  the  financial  frauds  and consumer protection unit. Nothing
 herein is intended to abrogate or modify in any way any common law priv-
 ilege or immunity heretofore enjoyed by any person.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

co-Sponsors

2019-S3505A (ACTIVE) - Details

Law Section:
Financial Services Law
Laws Affected:
Amd §405, Fin Serv L
Versions Introduced in Other Legislative Sessions:
2015-2016: S7572
2017-2018: S696

2019-S3505A (ACTIVE) - Summary

Relates to immunity from civil liability and information furnished to or from the National Insurance Crime Bureau, which is dedicated to the investigation and prosecution of the banking law or the insurance law.

2019-S3505A (ACTIVE) - Sponsor Memo

2019-S3505A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3505--A
     Cal. No. 248
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 8, 2019
                                ___________
 
 Introduced  by  Sens. BRESLIN, SEWARD -- read twice and ordered printed,
   and when printed to be committed to  the  Committee  on  Insurance  --
   reported  favorably  from  said committee, ordered to first and second
   report, ordered to a third reading,  amended  and  ordered  reprinted,
   retaining its place in the order of third reading
 
 AN ACT to amend the financial services law, in relation to immunity from
   civil liability for certain information relating to insurance or bank-
   ing violations
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 405 of the financial services  law  is  amended  to
 read as follows:
   §  405.  Immunity.  In  the  absence  of fraud or bad faith, no person
 subject to the provisions of this chapter, the banking law or the insur-
 ance law shall be subject to civil liability,  and  no  civil  cause  of
 action of any nature shall arise against such person for any: (a) infor-
 mation relating to suspected violations of the banking law or the insur-
 ance  law  furnished  to  law  enforcement  officials,  their agents and
 employees; (b) information relating to suspected violations of the bank-
 ing law or the insurance law furnished to other persons subject  to  the
 provisions  of  this chapter; [and] (c) information furnished in reports
 to the financial frauds and consumer  protection  unit,  its  agents  or
 employees or any state agency investigating fraud or misconduct relating
 to  financial  fraud,  its  agents  or  employees;  AND  (D) INFORMATION
 FURNISHED TO OR FROM  THE  NATIONAL  INSURANCE  CRIME  BUREAU.  FOR  THE
 PURPOSES  OF  THIS  SECTION  THE  NATIONAL  INSURANCE  CRIME BUREAU IS A
 NONPROFIT DEDICATED TO INVESTIGATION AND ENFORCEMENT OF THE BANKING  LAW
 OR  THE INSURANCE LAW.  The superintendent or any employee of the finan-
 cial frauds and consumer protection unit, in the absence of fraud or bad
 faith, shall not be subject to civil liability and  no  civil  cause  of
 action  of any nature shall arise against the superintendent or any such
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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