S2704-2011 - NY Senate Open Legislation - Relates to license terms for new applicants

Relates to license terms for new applicants.

Sponsor: SEWARD
Law Section: Insurance Law / Law: Amd SS2103 & 2132, Ins L

S2704-2011 Actions

Aug 17, 2012: SIGNED CHAP.442
Aug 6, 2012: DELIVERED TO GOVERNOR
May 30, 2012: returned to senate
May 30, 2012: passed assembly
May 30, 2012: ordered to third reading cal.636
May 30, 2012: substituted for a6435a
Mar 12, 2012: referred to insurance
Mar 12, 2012: DELIVERED TO ASSEMBLY
Mar 12, 2012: PASSED SENATE
Mar 7, 2012: ADVANCED TO THIRD READING
Mar 6, 2012: 2ND REPORT CAL.
Mar 5, 2012: 1ST REPORT CAL.279
Jan 4, 2012: REFERRED TO INSURANCE
Jan 4, 2012: returned to senate
Jan 4, 2012: died in assembly
Jun 7, 2011: referred to insurance
Jun 7, 2011: DELIVERED TO ASSEMBLY
Jun 7, 2011: PASSED SENATE
May 16, 2011: AMENDED ON THIRD READING 2704A
Feb 28, 2011: ADVANCED TO THIRD READING
Feb 15, 2011: 2ND REPORT CAL.
Feb 14, 2011: 1ST REPORT CAL.88
Jan 28, 2011: REFERRED TO INSURANCE

S2704-2011 Meetings

Insurance: Feb 14, 2011

S2704-2011 Calendars

S2704-2011 Votes

VOTE: COMMITTEE VOTE: - Insurance - Feb 14, 2011

Ayes (16): Seward, Flanagan, Gallivan, Golden, Grisanti, Lanza, Larkin, LaValle, Saland, Young, Breslin, Diaz, Espaillat, Kennedy, Parker, Smith
Ayes W/R (2): Kruger, Peralta

VOTE: FLOOR VOTE: - Jun 7, 2011

Ayes (62): Adams, Addabbo, Alesi, Avella, Ball, Bonacic, Breslin, Carlucci, DeFrancisco, Diaz, Dilan, Duane, Espaillat, Farley, Flanagan, Fuschillo, Gallivan, Gianaris, Golden, Griffo, Grisanti, Hannon, Hassell-Thomps, Huntley, Johnson, Kennedy, Klein, Krueger, Kruger, Lanza, Larkin, LaValle, Libous, Little, Marcellino, Martins, Maziarz, McDonald, Montgomery, Nozzolio, O'Mara, Oppenheimer, Parker, Peralta, Perkins, Ranzenhofer, Ritchie, Rivera, Robach, Saland, Sampson, Savino, Serrano, Seward, Skelos, Smith, Squadron, Stavisky, Stewart-Cousin, Valesky, Young, Zeldin

VOTE: COMMITTEE VOTE: - Insurance - Mar 5, 2012

Ayes (18): Seward, Flanagan, Golden, Grisanti, Lanza, Larkin, LaValle, Martins, Saland, Young, Breslin, Diaz, Espaillat, Kennedy, Parker, Peralta, Smith, Stavisky

VOTE: FLOOR VOTE: - Mar 12, 2012

Ayes (60): Adams, Addabbo, Alesi, Avella, Ball, Bonacic, Breslin, Carlucci, DeFrancisco, Diaz, Dilan, Duane, Espaillat, Farley, Flanagan, Fuschillo, Gallivan, Gianaris, Golden, Griffo, Grisanti, Hannon, Hassell-Thomps, Huntley, Johnson, Kennedy, Klein, Krueger, Lanza, Larkin, LaValle, Libous, Little, Marcellino, Martins, Maziarz, McDonald, Montgomery, Nozzolio, O'Mara, Parker, Peralta, Perkins, Ranzenhofer, Ritchie, Rivera, Robach, Saland, Sampson, Savino, Serrano, Seward, Skelos, Smith, Squadron, Stavisky, Stewart-Cousin, Valesky, Young, Zeldin
Excused (1): Oppenheimer

S2704-2011 Memo

BILL NUMBER:S2704

TITLE OF BILL:
An act
to amend the insurance law, in relation to license terms of new
applicants

PURPOSE:
To allow the Superintendent of Insurance to issue licenses to
new applicants for a term longer than twenty-four months.

SUMMARY OF PROVISIONS:
Section 1 allows the Superintendent of
Insurance to issue licenses to new applicants for a term longer than
twenty-four months, but not to exceed a term of thirty months. The
fee for such additional months would be the licensing fee prorated
for the additional months of such license term. Section 2 clarifies
that continuing education requirements are required after the full
biennial licensing period as is currently the practice by the New
York State Department of Insurance. Section 3 provides that the bill
takes effect immediately.

JUSTIFICATION:
Licenses for insurance agents expire on an insurance
agent's birth date every other year. The licenses are issued for a
term of twenty-four months. When an agent makes an initial
application, however, the term is much shorter if the agent's date of
birth is shortly following the initial application. Currently, there
is no provision in the law that allows for an extended period of time
for a license to be issued to an initial applicant. The result is
applicants must apply and obtain a new license immediately following
the issuance of the initial license. Allowing the Superintendent to
extend the initial license period will streamline the process for
both applicants and New York State Department of Insurance.

LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.

S2704-2011 Text

 S T A T E   O F   N E W   Y O R K
 
                                          2704
 2011-2012 Regular Sessions
 I N  SENATE
 January 28, 2011
 
 Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
 printed to be committed to the Committee on Insurance
 

AN ACT to amend the insurance law, in relation to license terms  of  new
 applicants
 

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

 

Section 1. Paragraph 3 of subsection j of section 2103 of  the  insur
 ance  law,  as  added  by chapter 769 of the laws of 1984, is amended to
 read as follows:

 (3) [Such licenses may be issued for all of such two year  terms,  or,
 upon  application made during any such term, for the balance thereof] IN
 THE CASE OF A LICENSE ISSUED TO A NEW APPLICANT, THE SUPERINTENDENT  MAY
 ISSUE  A  LICENSE  FOR  A TERM OF MORE THAN TWO YEARS, PROVIDED HOWEVER,
 SUCH TERM SHALL NOT EXCEED THIRTY MONTHS.
 

S 2. Paragraph 1 of subsection c of section 2132 of the insurance law,
 as added by chapter 656 of the laws of  1992,  is  amended  to  read  as
 follows:

 (1)  Any  person holding a license issued pursuant to this article and
 not exempt under subsection (b) of this section shall, during each  full
 biennial  licensing  period, SUBSEQUENT TO THE INITIAL LICENSING PERIOD,
 satisfactorily complete courses or programs  of  instruction  or  attend
 seminars  as may be approved by the superintendent equivalent to fifteen
 credit hours of instruction.
 

S 3. This act shall take effect immediately.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08793-01-1

S2704-2011: Relates to license terms for new applicants