Bill Text: NY A02243 | 2015-2016 | General Assembly | Introduced


Bill Title: Relates to assessment of certain title insurance corporations.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - referred to insurance [A02243 Detail]

Download: New_York-2015-A02243-Introduced.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2243
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 15, 2015
                                      ___________
       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:
    1    Section  1.  Title  insurance  assessment  relief act. Notwithstanding
    2  section 206 of the financial services law, title insurance  corporations
    3  licensed  under  paragraph  18  of subsection (a) of section 1113 of the
    4  insurance law and domiciled in New  York  state  shall  be  assessed  on
    5  direct premiums written less amounts paid to or retained by title agents
    6  in  this  state  during  the  calendar year ending December thirty-first
    7  immediately preceding the end of the fiscal year for which  the  assess-
    8  ment is made (less return premiums and considerations thereon) for poli-
    9  cies or contracts of insurance covering title in this state the issuance
   10  of  which  policies or contracts requires a license from the superinten-
   11  dent of financial services.
   12    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06400-01-5
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