Bill Text: NY S02367 | 2015-2016 | General Assembly | Amended
Bill Title: Enacts the "insurance modernization act of 2016" which relates to permitting all forms of signatures for continuing insurance education course providers; relates to allowing advance premium cooperative investment in certificates of deposit.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2016-01-11 - PRINT NUMBER 2367B [S02367 Detail]
Download: New_York-2015-S02367-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2367--B 2015-2016 Regular Sessions IN SENATE January 22, 2015 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Insurance in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the insurance law, in relation to enacting the "insur- ance modernization act of 2016" The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. This act shall be known, and may be cited as, the "insur- 2 ance modernization act of 2016." 3 § 2. The legislature finds and declares that there is a need for 4 modernizing two discrete provisions of the insurance law in order to 5 streamline the conduct of the business of insurance in New York. The 6 "insurance modernization act of 2016" would permit all forms of signa- 7 tures for continuing insurance education course providers and allow 8 advance premium cooperative investment in certificates of deposit. 9 § 3. Paragraph 3 of subsection (i) of section 2132 of the insurance 10 law, as added by chapter 656 of the laws of 1992, is amended to read as 11 follows: 12 (3) The completed applications shall be returned in a timely manner, 13 as specified by the superintendent, provided that any signature require- 14 ments shall be deemed satisfied if the signatures comply with section 15 forty-six of the general construction law, with a non-refundable filing 16 fee of two hundred dollars per organization, fifty dollars per course, 17 program and seminar, and fifty dollars per instructor. 18 § 4. Subsection (c) of section 6623 of the insurance law, as added by 19 chapter 431 of the laws of 2000, is amended to read as follows: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06933-04-6