Bill Text: NY S03516 | 2019-2020 | General Assembly | Amended


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

Spectrum: Slight Partisan Bill (Republican 6-2)

Status: (Introduced - Dead) 2020-02-04 - PRINT NUMBER 3516A [S03516 Detail]

Download: New_York-2019-S03516-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         3516--A

                               2019-2020 Regular Sessions

                    IN SENATE

                                    February 8, 2019
                                       ___________

        Introduced  by  Sens. BRESLIN, SEWARD, GALLIVAN, JACOBS, JORDAN, LITTLE,
          MAYER -- read twice and  ordered  printed,  and  when  printed  to  be
          committed to the Committee on Labor -- recommitted to the Committee on
          Labor   in  accordance  with  Senate  Rule  6,  sec.  8  --  committee
          discharged, bill amended, ordered reprinted as amended and recommitted
          to said committee

        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.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06523-05-9

        S. 3516--A                          2

     1    The  requirements of this subdivision shall not apply when an employer
     2  has given written notice to the fund of his intention to withdraw, which
     3  shall include the effective date of such cancellation and proof that the
     4  employer has complied with subdivision two  of  section  fifty  of  this
     5  chapter.  The effective date of cancellation of such employer's contract
     6  with the state insurance fund shall be the date that the  new  insurance
     7  contract  with  the  stock corporation, mutual corporation or reciprocal
     8  insurer takes effect.
     9    § 2. This act shall take effect on the ninetieth day  after  it  shall
    10  have become a law.
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