Bill Text: NY A03061 | 2023-2024 | General Assembly | Introduced

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Bill Title: Relates to the requirement for policyholders to provide notice to withdraw from the state insurance fund.

Spectrum: Moderate Partisan Bill (Democrat 5-1)

Status: (Introduced) 2024-07-15 - enacting clause stricken [A03061 Detail]

Download: New_York-2023-A03061-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3061

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 2, 2023
                                       ___________

        Introduced  by  M.  of A. ZEBROWSKI, STIRPE, WALLACE, BENEDETTO, COLTON,
          BRABENEC -- read once and referred to the Committee on Labor

        AN ACT to amend the  workers'  compensation  law,  in  relation  to  the
          requirement  for  policyholders  to provide 30-days notice to withdraw
          from the state insurance fund

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

     1    Section  1.  Subdivision  a of section 94 of the workers' compensation
     2  law, as amended by chapter 635 of the laws of 1996, is amended  to  read
     3  as follows:
     4    a.   Any employer may, upon complying with subdivision two or three of
     5  section fifty of this chapter, withdraw from the fund by turning in  his
     6  insurance  contract  for  cancellation,  provided  he  has given written
     7  notice to the fund of his intention to withdraw  not  less  than  thirty
     8  days  before  the  effective date of such cancellation.  Upon receipt of
     9  such notice the fund shall, at least ten days  prior  to  the  effective
    10  date  file  in  the office of the chairman a notice of such cancellation
    11  date.
    12    In no event shall the insurance contract be deemed cancelled until  at
    13  least ten days after the date of such filing, any earlier date mentioned
    14  in the notice to the contrary notwithstanding.
    15    If an employer withdraws from the fund upon complying with subdivision
    16  two  of  section  fifty of this chapter, the new insurance contract with
    17  the stock corporation, mutual corporation or reciprocal insurer shall be
    18  deemed not to take effect until  the  cancellation  of  such  employer's
    19  contract with the state insurance fund has become effective.
    20    The  requirements of this subdivision shall not apply when an employer
    21  has given written notice to the fund of his intention to withdraw, which
    22  shall include the effective date of such cancellation and proof that the
    23  employer has complied with subdivision two  of  section  fifty  of  this
    24  chapter.  The effective date of cancellation of such employer's contract

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06360-01-3
        A. 3061                             2

     1  with the state insurance fund shall be the date that the  new  insurance
     2  contract  with  the  stock corporation, mutual corporation or reciprocal
     3  insurer takes effect.
     4    §  2.  This  act shall take effect on the ninetieth day after it shall
     5  have become a law.