Bill Text: NY A09458 | 2013-2014 | General Assembly | Amended

New York Assembly Bill 9458 (Prior Session Legislation)

Bill Title: Relates to required form for exclusion language; permits superintendent of insurance to establish such form through promulgation of regulations.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2014-08-11 - signed chap.275 [A09458 Detail]

Download: New_York-2013-A09458-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        9458--A
                                 I N  A S S E M B L Y
                                    April 30, 2014
                                      ___________
       Introduced by M. of A. CAHILL -- 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, to allow for certain  life  insurance
         policy provisions to be disclosed in an alternative, equally prominent
         manner
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The opening paragraph of paragraph 4 of subsection  (c)  of
    2  section 3201 of the insurance law is amended to read as follows:
    3    The  superintendent  shall  not approve any life insurance policy form
    4  containing any war or travel exclusion or restriction, for  delivery  or
    5  issuance  for delivery in this state, unless such policy form shall have
    6  printed or stamped across its face in red and  in  capital  letters  not
    7  smaller than twelve point type, OR IN AN EQUALLY PROMINENT MANNER ESTAB-
    8  LISHED  AT  THE DISCRETION OF THE SUPERINTENDENT AND PROMULGATED THROUGH
    9  REGULATIONS, the following:
   10    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD09743-02-4