Assembly Bill A1875

2021-2022 Legislative Session

Relates to assessment of certain title insurance corporations

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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2021-A1875 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2013-2014: A10090
2015-2016: A2243
2017-2018: A140
2019-2020: A68

2021-A1875 (ACTIVE) - Summary

Relates to assessment of certain title insurance corporations.

2021-A1875 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1875
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 11, 2021
                                ___________
 
 Introduced by M. of A. CAHILL -- read once and referred 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.
   ยง 2. This act shall take effect immediately.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01257-01-1

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