Senate Bill S3509

2019-2020 Legislative Session

Relates to assessment of certain title insurance corporations

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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2019-S3509 (ACTIVE) - Details

See Assembly Version of this Bill:
A68
Current Committee:
Senate Insurance
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2013-2014: S7228, A10090
2015-2016: S2359, A2243
2017-2018: S3889, A140
2021-2022: A1875

2019-S3509 (ACTIVE) - Summary

Relates to assessment of certain title insurance corporations.

2019-S3509 (ACTIVE) - Sponsor Memo

2019-S3509 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3509
 
                        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 in relation to the creation of  the  title  insurance  assessment
   relief act
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Title  insurance  assessment  relief  act.  Notwithstanding
 section  206 of the financial services law, title insurance corporations
 licensed under paragraph 18 of subsection (a) of  section  1113  of  the
 insurance  law  and  domiciled  in  New  York state shall be assessed on
 direct premiums written less amounts paid to or retained by title agents
 in this state during the  calendar  year  ending  December  thirty-first
 immediately  preceding  the end of the fiscal year for which the assess-
 ment is made (less return premiums and considerations thereon) for poli-
 cies or contracts of insurance covering title in this state the issuance
 of which policies or contracts requires a license from  the  superinten-
 dent of financial services.
   § 2. This act shall take effect immediately.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02801-01-9

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