Assembly Bill A4984

Signed By Governor
2023-2024 Legislative Session

Authorizes an examination of records maintained by the excess line broker by the excess line association; extends the expiration thereof

download bill text pdf

Sponsored By

Current 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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Bill Amendments

2023-A4984 - Details

Law Section:
Insurance Law
Laws Affected:
Amd §5, Chap 630 of 1988; amd §2130, Ins L

2023-A4984 - Summary

Authorizes an examination of records maintained by the excess line broker by the excess line association; extends the expiration thereof.

2023-A4984 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4984
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced  by  M.  of  A. D. ROSENTHAL -- read once and referred to the
   Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to the excess line  asso-
   ciation,  and  to  amend chapter 630 of the laws of 1988, amending the
   insurance law relating to establishing an excess line advisory  organ-
   ization, in relation to the effectiveness thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 5 of chapter 630 of the laws of 1988, amending  the
 insurance law relating to establishing an excess line advisory organiza-
 tion,  as amended by chapter 488 of the laws of 2018, is amended to read
 as follows:
   § 5. This act shall take effect January 1, 1989 and shall cease to  be
 of any force or effect after July 1, [2024] 2029.
   §  2.  Paragraph  1 of subsection (a) of section 2130 of the insurance
 law, as added by chapter 630 of the laws of 1988, is amended to read  as
 follows:
   (1)  receive  and  record  all  excess  line insurance documents which
 excess line brokers are required to  file  with  the  association  under
 section  two  thousand one hundred eighteen of this article. ALL RECORDS
 WHICH AN EXCESS LINE BROKER IS REQUIRED TO MAINTAIN  UNDER  SECTION  TWO
 THOUSAND  ONE HUNDRED EIGHTEEN OF THIS ARTICLE SHALL BE SUBJECT TO EXAM-
 INATION BY THE EXCESS LINE ASSOCIATION;
   § 3. Paragraph 11 of subsection (a) of section 2130 of  the  insurance
 law,  as  added by chapter 630 of the laws of 1988, is amended and a new
 paragraph 12 is added to read as follows:
   (11) provide such other services to its members as are  incidental  or
 related to the purposes of the association[.];
   (12)  UTILIZE  THE  AUTHORITY  GRANTED  TO UNINCORPORATED ASSOCIATIONS
 PURSUANT TO SECTION TWELVE OF THE GENERAL ASSOCIATIONS LAW.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08618-01-3
 A. 4984                             2

co-Sponsors

2023-A4984A - Details

Law Section:
Insurance Law
Laws Affected:
Amd §5, Chap 630 of 1988; amd §2130, Ins L

2023-A4984A - Summary

Authorizes an examination of records maintained by the excess line broker by the excess line association; extends the expiration thereof.

2023-A4984A - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4984--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced  by  M.  of  A. D. ROSENTHAL -- read once and referred to the
   Committee on Insurance -- committee discharged, bill amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend  the insurance law, in relation to the examination of
   records maintained by the excess line association; and to amend  chap-
   ter  630  of  the laws of 1988, amending the insurance law relating to
   establishing an excess line  advisory  organization,  in  relation  to
   extending the effectiveness thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 5 of chapter 630 of the laws of 1988, amending  the
 insurance law relating to establishing an excess line advisory organiza-
 tion,  as amended by chapter 488 of the laws of 2018, is amended to read
 as follows:
   § 5. This act shall take effect January 1, 1989 and shall cease to  be
 of any force or effect after July 1, [2024] 2029.
   §  2.  Paragraph  1 of subsection (a) of section 2130 of the insurance
 law, as added by chapter 630 of the laws of 1988, is amended to read  as
 follows:
   (1)  receive  and  record  all  excess  line insurance documents which
 excess line brokers are required to  file  with  the  association  under
 section  two  thousand one hundred eighteen of this article. ALL RECORDS
 WHICH AN EXCESS LINE BROKER IS REQUIRED TO MAINTAIN  UNDER  SECTION  TWO
 THOUSAND ONE HUNDRED EIGHTEEN OF THIS ARTICLE ARE SUBJECT TO EXAMINATION
 BY THE EXCESS LINE ASSOCIATION;
   §  3.  Paragraph 11 of subsection (a) of section 2130 of the insurance
 law, as added by chapter 630 of the laws of 1988, is amended and  a  new
 paragraph 12 is added to read as follows:
   (11)  provide  such other services to its members as are incidental or
 related to the purposes of the association[.]; AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08618-02-3
 A. 4984--A                          2

co-Sponsors

2023-A4984B (ACTIVE) - Details

Law Section:
Insurance Law
Laws Affected:
Amd §5, Chap 630 of 1988; amd §2130, Ins L

2023-A4984B (ACTIVE) - Summary

Authorizes an examination of records maintained by the excess line broker by the excess line association; extends the expiration thereof.

2023-A4984B (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4984--B
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced by M. of A. D. ROSENTHAL, WEPRIN -- read once and referred to
   the  Committee  on  Insurance  --  committee discharged, bill amended,
   ordered reprinted as amended and  recommitted  to  said  committee  --
   reported  and  referred  to  the Committee on Rules -- Rules Committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to the Committee on Rules
 
 AN ACT to amend the insurance law, in relation  to  the  examination  of
   records  maintained by the excess line association; and to amend chap-
   ter 630 of the laws of 1988, amending the insurance  law  relating  to
   establishing  an  excess  line  advisory  organization, in relation to
   extending the effectiveness thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 5 of chapter 630 of the laws of 1988, amending the
 insurance law relating to establishing an excess line advisory organiza-
 tion, as amended by chapter 488 of the laws of 2018, is amended to  read
 as follows:
   §  5. This act shall take effect January 1, 1989 and shall cease to be
 of any force or effect after July 1, [2024] 2029.
   § 2. Paragraph 1 of subsection (a) of section 2130  of  the  insurance
 law,  as added by chapter 630 of the laws of 1988, is amended to read as
 follows:
   (1) receive and record  all  excess  line  insurance  documents  which
 excess  line  brokers  are  required  to file with the association under
 section two thousand one hundred eighteen of this article.  ALL  RECORDS
 WHICH  AN  EXCESS  LINE BROKER IS REQUIRED TO MAINTAIN UNDER SECTION TWO
 THOUSAND ONE HUNDRED EIGHTEEN OF THIS ARTICLE SHALL BE OPEN TO  EXAMINA-
 TION BY THE EXCESS LINE ASSOCIATION;
   §  3.  Paragraph 11 of subsection (a) of section 2130 of the insurance
 law, as added by chapter 630 of the laws of 1988, is amended and  a  new
 paragraph 12 is added to read as follows:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08618-03-3

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