Relates to pre-need funeral services and provides that the department of financial services will conduct a study of pre-arranged funeral services and goods.

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S7490-2011 Actions

• Jun 29, 2012: SIGNED CHAP.88
• Jun 22, 2012: DELIVERED TO GOVERNOR
• May 31, 2012: returned to senate
• May 31, 2012: passed assembly
• May 31, 2012: ordered to third reading rules cal.37
• May 31, 2012: substituted for a10413
• May 31, 2012: referred to consumer affairs and protection
• May 31, 2012: DELIVERED TO ASSEMBLY
• May 31, 2012: PASSED SENATE
• May 30, 2012: ORDERED TO THIRD READING CAL.971
• May 25, 2012: REFERRED TO RULES

S7490-2011 Meetings

Rules: May 30, 2012

S7490-2011 Calendars

Active List: May 31, 2012 , Floor Calendar: May 30, 2012 , Floor Calendar: May 31, 2012

S7490-2011 Votes

S7490-2011 Memo

BILL NUMBER:S7490

TITLE OF BILL:
An act
to amend chapter 557 of the laws of 2001 amending the general business
law, the public health law and the insurance law relating to clarifying
provisions pertaining to pre-need funeral services, in relation to the
effectiveness thereof

SUMMARY OF PROVISIONS:
This bill extends for five years chapter 557 of L. 2001, which
prohibits acceptance of commissions on pre-need funeral insurance.

It also requires a study be completed by the Department of Financial
Services no later than three years after the effective date of this
chapter, examining practices in at least ten other states.

JUSTIFICATION:
When this legislation was initially enacted in 2001, the Governor in
his approval memo noted that the issues surrounding the issuance of
pre-need funeral insurance required further study.

This study has never been conducted.

This legislation will preserve stability and continuity in the
industry for a period of five years and allow the issue to be studied.

LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
None.

LOCAL FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.

S7490-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                    7490

                              I N  SENATE

                                May 25, 2012
                                 ___________

  Introduced  by  Sen.  ROBACH -- read twice and ordered printed, and when
    printed to be committed to the Committee on Rules

  AN ACT to amend chapter 557 of the laws of  2001  amending  the  general
    business  law, the public health law and the insurance law relating to
    clarifying provisions pertaining  to  pre-need  funeral  services,  in
    relation to the effectiveness thereof

    THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section 1. Section 6 of chapter 557 of the laws of 2001  amending  the
  general business law, the public health law and the insurance law relat-
  ing to clarifying provisions pertaining to pre-need funeral services, as
  amended  by  chapter  78  of  the  laws  of  2007, is amended to read as
  follows:

    S 6. This act shall take effect 30 days after it shall have  become  a
  law  provided,  however  sections  3  and 4 of this act shall expire, be
  deemed repealed and shall cease to be of any force or effect after  June
  1,  [2012]  2017, AND PROVIDED THAT THE DEPARTMENT OF FINANCIAL SERVICES
  SHALL CONDUCT A STUDY  OF  FUNDING  PRE-ARRANGED  FUNERAL  SERVICES  AND
  GOODS,  EXAMINING  PRACTICES IN A MINIMUM OF TEN OTHER STATES, BY USE OF
  LIFE INSURANCE, TRUST DEPOSITING OR ANY OTHER FUNDING MECHANISM  IN  USE
  OR  THAT WOULD BE APPROPRIATE. THE RESULTS OF SUCH STUDY SHALL BE DELIV-
  ERED TO THE GOVERNOR AND LEGISLATURE ON OR BEFORE APRIL 15, 2015.
    S 2. This act shall take effect immediately and  shall  be  deemed  to
  have been in full force and effect on and after December 12, 2001.




   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD16037-02-2