Senate Bill S2359

2015-2016 Legislative Session

Relates to assessment of certain title insurance corporations

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-S2359 (ACTIVE) - Details

See Assembly Version of this Bill:
A2243
Current Committee:
Senate Finance
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2013-2014: S7228, A10090
2017-2018: S3889, A140
2019-2020: S3509, A68
2021-2022: A1875

2015-S2359 (ACTIVE) - Summary

Relates to assessment of certain title insurance corporations.

2015-S2359 (ACTIVE) - Sponsor Memo

2015-S2359 (ACTIVE) - Bill Text download pdf

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

                                  2359

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 22, 2015
                               ___________

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

AN ACT in relation to the creation of  the  title  insurance  assessment
  relief act

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

  Section 1. Title  insurance  assessment  relief  act.  Notwithstanding
section  206 of the financial services law, title insurance corporations
licensed under paragraph 18 of subsection (a) of  section  1113  of  the
insurance  law  and  domiciled  in  New  York state shall be assessed on
direct premiums written less amounts paid to or retained by title agents
in this state during the  calendar  year  ending  December  thirty-first
immediately  preceding  the end of the fiscal year for which the assess-
ment is made (less return premiums and considerations thereon) for poli-
cies or contracts of insurance covering title in this state the issuance
of which policies or contracts requires a license from  the  superinten-
dent of financial services.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06400-01-5


              

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