Bill Text: NY A07742 | 2015-2016 | General Assembly | Amended


Bill Title: Relates to the requirement for policyholders to provide 30 days notice to withdraw from the state insurance fund.

Spectrum: Slight Partisan Bill (Democrat 4-2)

Status: (Introduced - Dead) 2016-06-14 - reported referred to rules [A07742 Detail]

Download: New_York-2015-A07742-Amended.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                         7742--A
                               2015-2016 Regular Sessions
                   IN ASSEMBLY
                                      May 26, 2015
                                       ___________
        Introduced by M. of A. ZEBROWSKI, HAWLEY, SCHIMMINGER, DiPIETRO, SKOUFIS
          --  Multi-Sponsored by -- M. of A. KEARNS -- read once and referred to
          the Committee on Labor -- recommitted to the  Committee  on  Labor  in
          accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee
        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.  In the event that an employer intends to withdraw from  the  fund
    12  and  has  secured insurance with another insurance carrier, the employer
    13  shall provide written notice to  the  fund  which  shall  include  their
    14  intention to withdraw, demonstration that the employer has secured a new
    15  insurance  policy  and the effective date of cancellation which shall be
    16  the date of when such other coverage becomes effective.
    17    [In no event shall the insurance contract be deemed cancelled until at
    18  least ten days after the date of such filing, any earlier date mentioned
    19  in the notice to the contrary notwithstanding.]
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10972-02-6

        A. 7742--A                          2
     1    If an employer withdraws from the fund upon complying with subdivision
     2  two of section fifty of this chapter, the new  insurance  contract  with
     3  the stock corporation, mutual corporation or reciprocal insurer shall be
     4  deemed  not  to  take  effect  until the cancellation of such employer's
     5  contract with the state insurance fund has become effective.
     6    §  2.  This  act shall take effect on the ninetieth day after it shall
     7  have become a law.
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