Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 30, 2013 |
signed chap.20 |
Apr 18, 2013 |
delivered to governor |
Mar 18, 2013 |
returned to assembly passed senate 3rd reading cal.147 substituted for s3857 |
Mar 18, 2013 |
substituted by a5694 |
Mar 06, 2013 |
advanced to third reading |
Mar 05, 2013 |
2nd report cal. |
Mar 04, 2013 |
1st report cal.147 |
Feb 25, 2013 |
referred to insurance |
Senate Bill S3857
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status Via A5694 - Signed by Governor
- 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
Actions
Votes
2013-S3857 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5694
- Law Section:
- Insurance
- Laws Affected:
- Amd ยง5, Chap 630 of 1988
2013-S3857 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3857 TITLE OF BILL: An act to amend chapter 630 of the laws of 1988, amending the insurance law relating to establishing an excess line advisory organization, in relation to the effective date thereof PURPOSE: To extend the statutory authority of the Excess Line Association of New York ("ELANY") SUMMARY OF PROVISIONS: Section 1 of the bill would amend the language from Section 5 of Chapter 630 of the Laws of 1988, the enabling legislation for ELANY, to extend its "sunset" date of July 1, 2014 to July 1, 2019. Section 2 of the bill sets forth an immediate effective date. EXISTING LAW: Chapter 630 of the Laws of 1988 amended the Insurance Law to add Section 2130, the enabling legislation for ELANY. Section 5 of Chapter 630 currently provides that Section 2130 would cease to be of any force or effect after July 1, 2014. JUSTIFICATION: Established by the Legislature in 1988, ELANY, which is financially self-sustaining, quickly became an indispensable component in the regulation of the excess line market. The excess line market is a small, but extremely important marketplace which serves as an "incubator" for innovative insurance products, as well as a market for hard-to-place risks. Foremost among ELANY's accomplishments has been
2013-S3857 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3857 2013-2014 Regular Sessions I N S E N A T E February 25, 2013 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend chapter 630 of the laws of 1988, amending the insurance law relating to establishing an excess line advisory organization, in relation to the effective date thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 5 of chapter 630 of the laws of 1988, amending the insurance law relating to establishing an excess line advisory organ- ization, as amended by chapter 130 of the laws of 2008, is amended to read as follows: S 5. This act shall take effect January 1, 1989 and shall cease to be of any force or effect after July 1, [2014] 2019. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09047-01-3
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