Enacts the "New York utility corporation securitization act"; allows electric corporations to petition the public service commission for authority to issue storm recovery bonds.
Relates to parametric insurance; requires insurers providing parametric insurance include certain disclosures in the application for the policy; makes related provisions.
Relates to contractual liability insurance policies; requires the insurer to either discharge the obligations of the provider under the terms of the service contract, or in the event of the provider's nonperformance, cancellation of the service contract.
Requires an operator of a motor vehicle to exercise due care to avoid colliding with a vehicle which is parked, stopped, or standing on the shoulder of a parkway or controlled-access highway.