STATE OF NEW YORK ________________________________________________________________________ 4354--A Cal. No. 479 2023-2024 Regular Sessions IN SENATE February 7, 2023 ___________ Introduced by Sen. BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, passed by Senate and delivered to the Assembly, recalled, vote reconsidered, restored to third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the insurance law, in relation to the examination of records maintained by the excess line association; and to amend chap- ter 630 of the laws of 1988, amending the insurance law relating to establishing an excess line advisory organization, in relation to extending the effectiveness thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 5 of chapter 630 of the laws of 1988, amending the 2 insurance law relating to establishing an excess line advisory organiza- 3 tion, as amended by chapter 488 of the laws of 2018, is amended to read 4 as follows: 5 § 5. This act shall take effect January 1, 1989 and shall cease to be 6 of any force or effect after July 1, [2024] 2029. 7 § 2. Paragraph 1 of subsection (a) of section 2130 of the insurance 8 law, as added by chapter 630 of the laws of 1988, is amended to read as 9 follows: 10 (1) receive and record all excess line insurance documents which 11 excess line brokers are required to file with the association under 12 section two thousand one hundred eighteen of this article. All records 13 which an excess line broker is required to maintain under section two 14 thousand one hundred eighteen of this article shall be open to examina- 15 tion by the excess line association; EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08963-02-3
S. 4354--A 2 1 § 3. Paragraph 11 of subsection (a) of section 2130 of the insurance 2 law, as added by chapter 630 of the laws of 1988, is amended and a new 3 paragraph 12 is added to read as follows: 4 (11) provide such other services to its members as are incidental or 5 related to the purposes of the association[.]; and 6 (12) utilize the authority granted to unincorporated associations 7 under section twelve of the general associations law. 8 § 4. This act shall take effect immediately; provided, however that 9 the amendments to section 2130 of the insurance law made by sections two 10 and three of this act shall not affect the expiration of such section 11 and shall be deemed to expire therewith.