New York Assembly Bill A03189 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 3189 2023-2024 Regular Sessions  IN ASSEMBLY February 2, 2023 ___________ Introduced by M. of A. REILLY -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to permitting companies to assess various insurance quotes without having binding agreements with insurance brokers The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 2119 of the insurance law is amended by adding a 2 new subsection (g) to read as follows: 3 (g) No memorandum or contract required pursuant to subsection (a) of 4 this section shall be binding on any company for examining, appraising, 5 reviewing or evaluating any insurance policy, bond, annuity or pension 6 or profit-sharing contract, plan or program or for making recommenda- 7 tions or giving advice with regard to any of the above by an insurance 8 broker. 9 § 2. This act shall take effect on the sixtieth day after it shall 10 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02050-01-3