Bill Text: NY A00413 | 2023-2024 | General Assembly | Introduced

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Bill Title: Authorizes the superintendent of financial services to conduct a study and make recommendations on title insurance premium rates in NYS.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to insurance [A00413 Detail]

Download: New_York-2023-A00413-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           413

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                     January 9, 2023
                                       ___________

        Introduced by M. of A. WEPRIN -- read once and referred to the Committee
          on Insurance

        AN ACT in relation to directing the superintendent of financial services
          to conduct a study and issue a report regarding title insurance premi-
          um rates

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. 1. The  superintendent  of  financial  services  is  hereby
     2  authorized and directed to conduct a comprehensive study on title insur-
     3  ance premium rates.
     4    2.  Within  one year of the effective date of this act the superinten-
     5  dent of financial services shall issue a report to the governor and  the
     6  legislature. Such study and report shall include but shall not be limit-
     7  ed to:
     8    a. an analysis of title insurance premium rates in New York state;
     9    b. steps that can be taken to reduce such rates; and
    10    c.  what  service  charges are regularly added to customers' bills for
    11  title services.
    12    § 2. This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01407-01-3