Bill Text: NY A08278 | 2023-2024 | General Assembly | Introduced

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Bill Title: Permits funeral directors to sell insurance.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to insurance [A08278 Detail]

Download: New_York-2023-A08278-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8278

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    November 27, 2023
                                       ___________

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

        AN ACT to amend the public health law, in relation to permitting funeral
          directors to sell insurance

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

     1    Section 1. The public health law is amended by adding  a  new  section
     2  3445 to read as follows:
     3    §  3445. Funeral directing; sale of insurance. A funeral establishment
     4  may provide for the sale of insurance by a person licensed under article
     5  eleven of the insurance law. Such  licensed  person  may  be  a  funeral
     6  director.
     7    §  2.  Paragraph  (l)  of  subdivision 1 of section 3450 of the public
     8  health law, as amended by chapter 642 of the laws of 2019, is amended to
     9  read as follows:
    10    (l) has paid, given, has caused to be paid or given or offered to  pay
    11  or  to  give  to any person a commission or other valuable consideration
    12  for the solicitation or procurement, either directly or  indirectly,  of
    13  funeral  patronage, or has accepted any consideration (including without
    14  limitation a commission, rebate, or discount or direct or indirect price
    15  reduction on merchandise from the current value thereof) from any finan-
    16  cial institution or trust company,  or  agent  thereof,  with  whom  the
    17  funeral  director deposits funds paid for funeral services in advance of
    18  need pursuant to subdivision one of section four hundred fifty-three  of
    19  the  general  business  law except that the funeral director may accept,
    20  from the financial institution, trust company or agent  thereof,  up  to
    21  twenty-five  hundredths of one percent of the fee authorized under para-
    22  graph (b) of subdivision three of section four  hundred  fifty-three  of
    23  the  general  business  law  for administrative services provided by the
    24  funeral director, or has accepted any consideration  (including  without
    25  limitation  a  commission or gift) from any insurer or agent thereof, to

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13470-01-3
        A. 8278                             2

     1  sell, offer or promote the sale of  any  policy  of  insurance  payable,
     2  expressly  or  as  marketed,  at the death of the insured for funeral or
     3  burial expenses except where the funeral director is  licensed  to  sell
     4  insurance  under  article  eleven  of the insurance law and such compen-
     5  sation from the insurer or agent thereof is for the sale of insurance by
     6  the funeral director;
     7    § 3. This act shall take effect immediately.