New York Assembly Bill A03061 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 3061 2023-2024 Regular Sessions  IN ASSEMBLY February 2, 2023 ___________ Introduced by M. of A. ZEBROWSKI, STIRPE, WALLACE, BENEDETTO, COLTON, BRABENEC -- read once and referred to the Committee on Labor 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. 20 The requirements of this subdivision shall not apply when an employer 21 has given written notice to the fund of his intention to withdraw, which 22 shall include the effective date of such cancellation and proof that the 23 employer has complied with subdivision two of section fifty of this 24 chapter. The effective date of cancellation of such employer's contract EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06360-01-3 
 A. 3061 2 1 with the state insurance fund shall be the date that the new insurance 2 contract with the stock corporation, mutual corporation or reciprocal 3 insurer takes effect. 4 § 2. This act shall take effect on the ninetieth day after it shall 5 have become a law.