Bill Text: NY A10211 | 2017-2018 | General Assembly | Introduced

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Bill Title: Amends certain time frames for action by insurers relating to requests for unclaimed life insurance through the lost policy finder.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2018-06-19 - reported referred to rules [A10211 Detail]

Download: New_York-2017-A10211-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          10211
                   IN ASSEMBLY
                                     March 26, 2018
                                       ___________
        Introduced by M. of A. HUNTER -- read once and referred to the Committee
          on Insurance
        AN  ACT to amend the insurance law, in relation to unclaimed life insur-
          ance benefits
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  The opening paragraph of paragraph 4 of subsection (h) of
     2  section 3240 of the insurance law, as amended by chapter 10 of the  laws
     3  of 2013, is amended to read as follows:
     4    Within  [thirty]  sixty  days  of  receiving the request referenced in
     5  paragraph two of this subsection[, or within forty-five days of  receiv-
     6  ing the request where the insurer contracts with another entity to main-
     7  tain the insurer's records,] the insurer shall:
     8    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13951-01-7