NY State Senate Bill 2013-S6966

Archive: Last Bill Status - In Senate Committee Insurance 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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Apr 09, 2014	referred to insurance

co-Sponsors

2013-S6966 (ACTIVE) - Details

Current Committee:: Senate Insurance
Law Section:: Insurance Law
Laws Affected:: Amd Ins L, generally; amd §6, Chap 322 of 2007; amd §7, Chap 3 of 1997; amd §25, Chap 507 of 2009

2013-S6966 (ACTIVE) - Summary

Relates to the regulation of health maintenance organizations.

2013-S6966 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S6966

TITLE OF BILL:  An act to amend the insurance law, in relation to
adding additional compliance measures for certain health maintenance
organizations, expanding the definition of a domestic insurer and the
applicability of risk-based capital for life insurance and health
maintenance organizations (Part A); to amend the insurance law, in
relation to extending rate periods for certain motor vehicle insurance
rates, adding an additional date for the superintendent to collect,
analyze and compile periodic reports regarding certain
property/casualty insurance policies, extending the date for
exemptions on certain property/casualty insurance policies, and
extending certain rate periods and in relation to extending the
authority of the New York property and insurance underwriting
association (Part B); to amend chapter 322 of the laws of 2007,
amending the banking law relating to the power of banks, private
bankers, trust companies, savings banks, savings and loan
associations, credit unions and foreign banking corporations to
exercise the rights of national banks, federal savings associations,
federal credit unions and federal branches and agencies of foreign
banks, in relation to the effectiveness of certain provisions of such
chapter; and to amend chapter 3 of the laws of 1997, amending the
banking law and the insurance law relating to authorizing the banking
board to permit banks and trust companies to exercise the rights of
national banks, in relation to the effectiveness of certain provisions
of such chapter (Part C); and to amend chapter 507 of the laws of 2009

amending the real property actions and proceedings law and other laws
relating to foreclosure actions on home mortgage loans, in relation to
extending certain provisions of such chapter (Part D)

Purpose:

The purpose of this bill is to: (1) apply the risk-based capital
("RBC") requirements to organizations organized pursuant to Insurance
Law Article 43 ("Article 43 corporations") and certain health
maintenance organizations ("HMOs") (Part A); (2) amend the Insurance
Law in order to extend several important provisions of the law that
promote the stability of the property/casualty insurance market (Part
B); (3) amend the Banking Law to extend provisions permitting a state
chartered banking institution to directly exercise any federally
permitted power of its federally chartered counterpart and to amend
the Insurance Law to extend provisions that exempt a person from
having to be licensed as an insurance agent or broker when such a
person makes a referral to a licensed insurance agent or broker
provided that there is no discussion of specific policy terms or
conditions and there is no compensation paid for the referral (Part
C); and (4) extend by five years the 2009 legislation that: (a)
requires a lender, an assignee, or a mortgage loan servicer, with
regard to all home loans, to send a notice to borrowers at least 90
days before commencing legal action against the borrower; and (b)
extends mandatory settlement conferences to all borrowers, not just
borrowers of "high-cost," "subprime," and "non-traditional" home loans
(Part D).

                                  Part A:

Summary of Provisions:


Section 1 of the bill would amend Insurance Law § 1109(a) to apply
Insurance Law § 1322 to HMOs that are domiciled in New York and
certified or operating in at least one other state (a "domestic
multi-state HMO").

Section 2 would amend the title of Insurance Law § 1322 to include
Article 43 corporations and domestic multi-state HMOs.

Section 3 would amend Insurance Law § 1322(a)(3) to include within the
definition of "domestic insurer" an Article 43 corporation and
domestic multi-state HMO.

Section 4 would amend Insurance Law § 1322(b) to state that § 1322
applies to Article 43 corporations and domestic multi-state HMOs.

Section 4 also would amend Insurance Law § 1322(c)(1) to require a
domestic multi-state HMO to submit an RBC report to the Superintendent
of Financial Services on or prior to each April 15.

Section 5 would amend Insurance Law § 1322(c)(2)(D) to correct a
typographical error.

Section 6 would amend Insurance Law § 1322(d)(1) to increase the RBC
trend test trigger from 2.5 times the authorized control level RBC to

3.0 times. Section 6 also would amend Insurance Law § 1322(d)(1) to
make grammatical changes.

Section 7 would amend Insurance Law § 1322 to make grammatical
changes.

Section 8 would provide for an immediate effective date.

Existing Law:

HMOs and Article 43 corporations currently are not subject to the RBC
requirements set forth in Insurance Law § 1322. In addition, the RBC
trend test trigger currently set forth in Insurance Law § 1322 is 2.5
times the authorized control level RBC.

Legislative History:

This is a new bill.

Statement in Support:

This part would amend the Insurance Law to conform to the National
Association of Insurance Commissioners' ("NAIC's") RBC for Health
Organizations Model Act. Specifically, this bill would make domestic
multi-state HMOs and Article 43 corporations subject to the RBC
requirements set forth in Insurance Law § 1322. The bill also would
increase the RBC trend test trigger from 2.5 times the authorized
control level RBC to 3.0 times. Effective January 1, 2015, the NAIC's
RBC for Health Organizations Model Act will become an accreditation
standard and conformance therewith will be necessary for the
Department of Financial Services ("Department") to maintain its
accreditation status with the NAIC.


Budget Implications:

None.

Local impact:

None.

Effective Date:

This bill would take effect immediately.

                                  Part B:

Summary of Provisions:

Section 1 of the bill would extend sections 2328 and 2329 of the
Insurance Law dealing with commercial motor vehicle insurance rates to
June 30, 2019.

Sections 2 and 3 would extend for five years provisions of section
3425 of the Insurance Law dealing with non-renewal requirements for
automobile insurance.

Section 4 would extend the expiration of subsection (a) of section
2305 of the insurance law relating to prior approval of certain
insurance rates to June 30, 2019.

Section 5 would extend section 2342 of the Insurance. Law which
extends the expiration of sections 2307(c), 2308, 2310(a), 2316, 2320,
2323, 2326, 2335, and 2336(b) to June 30, 2019.

Section 6 would extend subsection (h) of section 2344 of the Insurance
Law dealing with flexible rate limitations in problem markets to June
30, 2019.

Section 7 provides for an immediate effective date.

Existing Law:

The existing provisions of the Insurance Law that are the subject of
this part will expire June 30, 2014.

Legislative History:

This is a new bill. These provisions were previously extended for a
three year period by Chapter 102 of the Laws of 2011.

Statement in Support:

Many of the provisions of this part are important consumer protections
that have been in place for years regarding rate regulation in certain
areas of insurance. Several provisions of the bill also enable
insurers to continue making certain types of insurance readily
available in New York.


Extending the sunset dates for -the Article 23 provisions assures the
insurance industry that the file-and-use and flexible rating
provisions will remain in effect. These file-and-use and flexible
rating approaches enable insurers to respond to changing market
conditions in a more expedited manner than the prior approval
approach, to which the law would revert back if these key provisions
of Article 23 are permitted to sunset.

Insurance Law § 3425 provides an equitable balance among the often
competing forces of policyholders' expectations, insurers' legitimate
prerogatives in evaluating and assuming risk, and the realities of the
private passenger automobile insurance marketplace. It provides the
foundation for a reliable automobile insurance market that promotes
stability and protects consumers against arbitrary cancellation or
nonrenewal of coverage. The 2% rule is also an essential component of
ongoing efforts to depopulate the New York Automobile Insurance Plan
("NYAIP").

Budget Implications:

None.

Local impact:

None.

Effective Date:

This bill would take effect immediately.

                                  Part C:

Summary of Provisions:

Section 1 of the bill would amend section 6 of Chapter 322 of the Laws
of 2007 to extend the expiration date from September 10, 2014 to
September 10, 2017.

Section 2 would amend section 7 of Chapter 3 of the Laws of 1997 to
extend the expiration from September 10, 2014 to September 10, 2017.

Section 3 provides for an immediate effective date.

Existing Law:

Section 6 of Chapter 322 of the Laws of 2007 is set to expire
September 10, 2014.

Section 7 of Chapter 3 of the Laws of 1997 is set to expire September
10, 2014.

Legislative History:

This is a new bill. These provisions were previously. extended for a
three year period by sections 95 and 95-a of Part A of Chapter 62 of
the Laws of 2011.


Statement in Support:

The New York Banking "wild card" statute that is due to expire
enhances the value of the New York State bank charters. The Insurance
Law provisions that are extended by this part ensure consistency with
the federal Gramm-Leach Bliley Act. These Banking and Insurance Law
provisions operate to the benefit of the financial services markets in
New York.

Budget Implications:

None.

Local Impact:

None.

Effective Date:

This bill would take effect immediately.

                                 Part D:

Summary of Provisions:

Section 1 would extend by five years subdivisions a and e of Chapter
507 of the Laws of 2009, amending the Real Property Actions and
Proceedings Law (RPAPL), and the CPLR. These provisions now set to
expire on, respectively, January 14, 2015 and February 13, 2015.

Section 2 contains a severability clause.

Section 3 provides for an immediate effective date.

Existing Law:

The amendments made to Sections 1304(1), (2) and (5) of RPAPL by
Chapter 507 of the Laws of 2009 are set to expire on January 14, 2015.

The amendments made to CPLR Rule 3408(a) by Chapter 507 of the Laws of
2009 are set to expire on February 13, 2015.

Legislative History:

This is a new bill.

Statement in Support:

Years after the height of the financial crisis, homeowners nationwide
are still reeling in the aftermath of the housing fallout as thousands
continue down the path toward foreclosure. In many cases, this path
has proven to be riddled with systemic deficiencies, characterized by
inefficient and ineffective use of homeowner, bank, and judicial
resources, and widespread delays in the foreclosure process. Far from
being immune to these problems, New York State is reported to have the
longest foreclosure timeline in the nation, averaging more than 1,000
days from the filing of the foreclosure action to bank repossession.


This part would extend by five years the 2009 legislation that: (a)
requires a lender, an assignee, or a mortgage loan servicer, with
regard to all home loans, to send a notice to borrowers at least 90
days before commencing legal action against the borrower; and (b)
extends mandatory settlement conferences to all borrowers, not just
borrowers of "high-cost," "subprime," and "non-traditional" home
loans.

Budget Implications:

None.

Local Impact:

This bill would reduce the number of vacant and abandoned homes that
are in the foreclosure process, which will reduce the financial burden
on local governments to maintain these abandoned properties.

Effective Date:

This bill would take effect immediately.

2013-S6966 (ACTIVE) - Bill Text download pdf

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

                                  6966

                            I N  S E N A T E

                              April 9, 2014
                               ___________

Introduced  by  Sens. SEWARD, GRIFFO -- (at request of the Department of
  Financial Services) -- read twice and ordered printed, and when print-
  ed to be committed to the Committee on Insurance

AN ACT to amend the insurance law,  in  relation  to  adding  additional
  compliance  measures  for  certain  health  maintenance organizations,
  expanding the definition of a domestic insurer and  the  applicability
  of risk-based capital for life insurance and health maintenance organ-
  izations  (Part A); to amend the insurance law, in relation to extend-
  ing rate periods for certain motor vehicle insurance rates, adding  an
  additional date for the superintendent to collect, analyze and compile
  periodic  reports  regarding certain property/casualty insurance poli-
  cies, extending the date for exemptions on  certain  property/casualty
  insurance policies, and extending certain rate periods and in relation
  to  extending  the  authority  of  the New York property and insurance
  underwriting association (Part B); to amend chapter 322 of the laws of
  2007, amending the banking law relating to the power of banks, private
  bankers, trust companies, savings  banks,  savings  and  loan  associ-
  ations, credit unions and foreign banking corporations to exercise the
  rights of national banks, federal savings associations, federal credit
  unions and federal branches and agencies of foreign banks, in relation
  to  the  effectiveness  of  certain provisions of such chapter; and to
  amend chapter 3 of the laws of 1997, amending the banking law and  the
  insurance  law  relating  to  authorizing  the banking board to permit
  banks and trust companies to exercise the rights of national banks, in
  relation to the effectiveness of certain provisions  of  such  chapter
  (Part  C);  and  to amend chapter 507 of the laws of 2009 amending the
  real property actions and proceedings law and other laws  relating  to
  foreclosure  actions  on home mortgage loans, in relation to extending
  certain provisions of such chapter (Part D)

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

  Section 1. This act enacts into law components of legislation relating
to  the  regulation of health maintenance organizations.  Each component
is wholly contained within a Part identified as Parts A through  D.  The

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

                                                           LBD14111-02-4

S. 6966                             2

effective  date for each particular provision contained within such Part
is set forth in the last section of such  Part.  Any  provision  in  any
section  contained  within  a  Part, including the effective date of the
Part,  which  makes a reference to a section "of this act", when used in
connection with that particular component, shall be deemed to  mean  and
refer  to  the  corresponding  section of the Part in which it is found.
Section three of this act sets forth the general effective date of  this
act.

                                 PART A

  Section  1.  Subsection  (a)  of section 1109 of the insurance law, as
amended by chapter 246 of the laws  of  2005,  is  amended  to  read  as
follows:
  (a)  An  organization  complying with the provisions of article forty-
four of the public health law may operate without being  licensed  under
this  chapter  and without being subject to any provisions of this chap-
ter, except: (1) to the extent that such organization must  comply  with
the  provisions  of  this chapter by virtue of such article, and (2) the
provisions of sections three hundred  eight,  [three  hundred  thirteen,
three  hundred thirty-two,] one thousand three hundred one, one thousand
three hundred two, one thousand three hundred seven, ONE THOUSAND  THREE
HUNDRED TWENTY-TWO, WITH REGARD TO HEALTH MAINTENANCE ORGANIZATIONS THAT
ARE  DOMICILED  IN THIS STATE AND CERTIFIED OR OPERATING IN AT LEAST ONE
OTHER STATE, two thousand one hundred three, two  thousand  one  hundred
twelve,  two  thousand  one  hundred  fourteen, two thousand one hundred
fifteen, two thousand one hundred seventeen, two  thousand  one  hundred
twenty-three, two thousand six hundred eight-a, two thousand six hundred
twelve,  three  thousand  two hundred twenty-four-a, four thousand three
hundred eight, four thousand  three  hundred  seventeen,  four  thousand
three  hundred  eighteen, four thousand three hundred twenty, four thou-
sand three hundred twenty-one, four thousand  three  hundred  twenty-two
and four thousand three hundred twenty-three of this chapter.
  S  2.  The  section  heading  of section 1322 of the insurance law, as
added by chapter 215 of the laws of 1993, is amended to read as follows:
  Risk-based capital for life [and] INSURANCE  COMPANIES,  accident  and
health  insurance  companies, CORPORATIONS ORGANIZED PURSUANT TO ARTICLE
FORTY-THREE OF THIS CHAPTER, AND CERTAIN  HEALTH  MAINTENANCE  ORGANIZA-
TIONS.
  S  3.  Paragraph  3 of subsection (a) of section 1322 of the insurance
law, as added by chapter 215 of the laws of 1993, is amended to read  as
follows:
  (3)  "Domestic insurer" means any authorized life insurance company or
accident and health insurance company incorporated  or  organized  under
any  law of this state; CORPORATION ORGANIZED PURSUANT TO ARTICLE FORTY-
THREE OF THIS CHAPTER; OR HEALTH MAINTENANCE ORGANIZATION  DOMICILED  IN
THIS STATE AND CERTIFIED OR OPERATING IN AT LEAST ONE OTHER STATE.
  S  4. Subsection (b) and paragraph 1 of subsection (c) of section 1322
of the insurance law, as added by chapter 215 of the laws of  1993,  are
amended to read as follows:
  (b)  Applicability.  This section shall apply to every authorized life
insurance company and accident and health insurance company INCORPORATED
OR ORGANIZED UNDER ANY LAW OF THIS STATE; CORPORATION ORGANIZED PURSUANT
TO ARTICLE FORTY-THREE OF THIS CHAPTER; OR HEALTH MAINTENANCE  ORGANIZA-
TION  DOMICILED IN THIS STATE AND CERTIFIED OR OPERATING IN AT LEAST ONE
OTHER STATE.

S. 6966                             3

  (1) Every domestic insurer OTHER THAN A HEALTH  MAINTENANCE  ORGANIZA-
TION  DOMICILED IN THIS STATE AND CERTIFIED OR OPERATING IN AT LEAST ONE
OTHER STATE shall, on or prior to each March fifteenth, AND  EVERY  SUCH
HEALTH  MAINTENANCE  ORGANIZATION,  ON  OR PRIOR TO EACH APRIL FIFTEENTH
(the  "filing  date"), prepare and submit to the superintendent a report
of its RBC levels as of the end of the calendar year just  ended,  in  a
form  and  containing  such  information  as  is  required  by  the  RBC
instructions. In addition, the insurer shall file the RBC report:
  (A) With  the  National  Association  of  Insurance  Commissioners  in
accordance with the RBC instructions; and
  (B)  With the insurance commissioner in any state in which the insurer
is authorized to do business, upon the written request of the  insurance
commissioner. The insurer shall file the RBC report by the later of:
  (i) The filing date; or
  (ii) Fifteen days after the date of the request.
  S 5. Subparagraph (D) of paragraph 2 of subsection (c) of section 1322
of  the  insurance  law, as added by chapter 215 of the laws of 1993, is
amended to read as follows:
  (D) All other business risks and such other [relevent] RELEVANT  risks
as are set forth in the RBC instructions.
  S  6.  Paragraph  1 of subsection (d) of section 1322 of the insurance
law, as added by chapter 215 of the laws of 1993, is amended to read  as
follows:
  (1)  "Company  action  level  event" means, with respect to a domestic
insurer:
  (A) The filing by the insurer of a RBC report indicating that: (i) The
insurer's total adjusted capital is greater than or equal to its regula-
tory action level RBC but less than its company action level RBC; or
  (ii) (I) The insurer has total adjusted capital [which] THAT is great-
er than or equal to its company action level RBC but less than the prod-
uct of [2.5] 3.0 and its authorized control level RBC; and
  (II) there is a negative trend;
  (B) The notification by  the  superintendent  to  the  insurer  of  an
adjusted  RBC report that indicates the occurrence of an event described
in item (i) or (ii) of subparagraph (A) of this paragraph, provided  the
insurer  does not challenge the adjusted RBC report under subsection (h)
of this section; or
  (C) If, under subsection (h) of this section, the  insurer  challenges
an  adjusted  RBC  report  that  indicates  the  occurrence  of an event
described in item (i) or (ii) of subparagraph  (A)  of  this  paragraph,
THEN  the  notification  by  the  superintendent to the insurer that the
superintendent has, after a hearing, rejected the insurer's challenge.
  S 7. Paragraphs 2 and 3 of subsection  (l)  of  section  1322  of  the
insurance  law, as added by chapter 215 of the laws of 1993, are amended
to read as follows:
  (2) In the event of [an] A regulatory action level event under subpar-
agraph (A), (B) or (C) of  paragraph  one  of  subsection  (e)  of  this
section  the  superintendent  shall  take  the  actions  required  under
subsection (d) of this section.
  (3) In the event of [an] A regulatory action level event under subpar-
agraph (D), (E), (F), (G), (H) or (I) of paragraph one of subsection (e)
of this section or an authorized control level event, the superintendent
shall take the actions required under subsection  (e)  of  this  section
with respect to the insurer.
  S 8. This act shall take effect immediately.

S. 6966                             4

                                 PART B

  Section  1. Sections 2328 and 2329 of the insurance law, as amended by
chapter 102 of the laws of 2011, are amended to read as follows:
  S 2328. Certain motor vehicle insurance rates; prior approval. For the
periods February first, nineteen  hundred  seventy-four  through  August
second,   two   thousand   one,   and   the   effective   date   of  the
property/casualty insurance availability act through June thirtieth, two
thousand [fourteen] NINETEEN, no changes in rates, rating plans,  rating
rules  and rate manuals applicable to motor vehicle insurance, including
no-fault coverages under article fifty-one of  this  chapter,  shall  be
made effective until approved by the superintendent, notwithstanding any
inconsistent provisions of this article; provided, however, that changes
in  such  rates, rating plans, rating rules and rate manuals may be made
effective without such approval if the rates [which]  THAT  result  from
such changes are no higher than the insurer's rates last approved by the
superintendent. This section shall apply only to policies covering loss-
es or liabilities arising out of ownership of a motor vehicle used prin-
cipally for the transportation of persons for hire, including a bus or a
school  bus  as  defined  in  sections  one hundred four and one hundred
forty-two of the vehicle and traffic law.
  S 2329. Motor vehicle insurance rates; excess profits.  In  accordance
with  regulations prescribed by the superintendent, each insurer issuing
policies [which] THAT are subject to article fifty-one of this  chapter,
including  policies of motor vehicle personal injury liability insurance
or policies of motor vehicle  property  damage  liability  insurance  or
insurance for loss or damage to a motor vehicle, shall establish a fair,
practicable, and nondiscriminatory plan for refunding or otherwise cred-
iting  to  those  purchasing  such policies their share of the insurer's
excess profit, if any, on such policies. An excess  profit  shall  be  a
profit  beyond  a percentage rate of return on net worth attributable to
such policies, computed in accordance with the  regulation  required  by
section  two  thousand  three  hundred twenty-three of this article, and
determined by the superintendent to be so far above a reasonable average
profit as to amount to an excess profit, taking into  consideration  the
fact  that  losses or profits below a reasonable average profit will not
be recouped from such policyholders. Each plan  shall  apply  to  policy
periods  for  the  periods  January first, nineteen hundred seventy-four
through August second, two thousand one, and the effective date  of  the
property/casualty insurance availability act through June thirtieth, two
thousand  [fourteen]  NINETEEN.    In  prescribing  such regulations the
superintendent may limit the duration of such plans, waive any  require-
ment  for  refund  or  credit [which] THAT he or she determines to be de
minimis or impracticable, adopt forms of returns [which] THAT  shall  be
made  to  him  or  her in order to establish the amount of any refund or
credit due, establish  periods  and  times  for  the  determination  and
distribution  of  refunds  and  credits, and shall provide that insurers
receive appropriate credit against any refunds or  credits  required  by
any such plan for policyholder dividends and for return premiums [which]
THAT may be due under rate credit or retrospective rating plans based on
experience.
  S  2.  Paragraph  2 of subsection (l) of section 3425 of the insurance
law, as amended by chapter 102 of the laws of 2011, is amended  to  read
as follows:
  (2) The superintendent shall collect, analyze and compile such reports
with  regard  to  the  number  of new insureds, non-renewed insureds and

S. 6966                             5

business written by each insurer in each rating territory of  each  such
insurer and, in each case, the class of insureds (including age and sex)
affected so that a statistical analysis of the results obtained pursuant
to  subsections  (f)  and  (m) of this section shall be provided to each
house of the legislature by  March  fifteenth,  in  the  years  nineteen
hundred  ninety-two, nineteen hundred ninety-six, nineteen hundred nine-
ty-eight, two thousand one, two thousand six, two  thousand  seven,  two
thousand  eight,  two  thousand eleven [and], two thousand fourteen, AND
TWO THOUSAND NINETEEN.
  S 3. Paragraphs 1 and 2 and the opening paragraph of  paragraph  3  of
subsection (m) of section 3425 of the insurance law, as amended by chap-
ter 102 of the laws of 2011, are amended to read as follows:
  (1)  Paragraphs  eight  and nine of subsection (a), subsection (f) and
subparagraphs (B) and (E) of paragraph one of  subsection  (j)  of  this
section  shall  not apply to any new covered policy of automobile insur-
ance voluntarily written on or  after  August  first,  nineteen  hundred
eighty-five and prior to January first, nineteen hundred eighty-six, and
on  or  after August second, two thousand one and prior to the effective
date of the property/casualty insurance  availability  act,  and  on  or
after  June  thirtieth,  two thousand [fourteen] NINETEEN, but the legal
rights granted to insurers or policyholders under such provisions  shall
not be extinguished or impaired thereby.
  (2)  In  lieu  of  such provisions, paragraph seven of subsection (a),
subparagraph (A) of paragraph one of subsection (j) and paragraph  three
of  this  subsection  shall  apply to such automobile insurance policies
[which] THAT are newly and voluntarily written to have an effective date
on or after August first, nineteen  hundred  eighty-five  and  prior  to
January  first,  nineteen  hundred  eighty-six,  and  on or after August
second, two thousand  one  and  prior  to  the  effective  date  of  the
property/casualty insurance availability act, and on or after June thir-
tieth, two thousand [fourteen] NINETEEN.
  On  and  after August first, nineteen hundred eighty-five and prior to
January first, nineteen hundred  eighty-six,  and  on  or  after  August
second,  two  thousand  one  and  prior  to  the  effective  date of the
property/casualty insurance availability act, and on or after June thir-
tieth, two thousand [fourteen] NINETEEN,  no  notice  of  nonrenewal  or
conditional  renewal  of  such  covered  automobile  insurance  policies
referred to in this subsection  shall  be  issued  to  become  effective
during  the  required policy period unless it is based upon a ground for
which the policy could have been cancelled or unless it  is  based  upon
one  or  more  of the following grounds [which] THAT occurred during the
thirty-six month period ending on the  last  day  of  the  fourth  month
preceding  the  month of the effective date of such notice of nonrenewal
or conditional renewal:
  S 4. Subsection (f) of section 2305 of the insurance law,  as  amended
by chapter 102 of the laws of 2011, is amended to read as follows:
  (f)  Subsection  (a)  of  this  section shall be of no force or effect
during the period August third, two thousand one through the day  before
the  effective date of the property/casualty insurance availability act,
and after June thirtieth, two thousand [fourteen] NINETEEN.  During  the
period  August third, two thousand one through the day before the effec-
tive date of the property/casualty insurance availability act, and again
commencing on July first, two thousand [fourteen]  NINETEEN,  all  rates
previously  subject  to subsection (a) of this section, other than rates
[which] THAT are not required to be filed pursuant to subsection (b)  of
section  two  thousand three hundred ten of this article or [which] THAT

S. 6966                             6

have been suspended from the filing requirement pursuant to section  two
thousand  three  hundred eleven of this article, shall become subject to
subsections (b), (c) and (d) of this section. All  other  provisions  of
this  article  applicable  to kinds of insurance or insurance activities
the rates for which are subject to prior approval under  subsection  (b)
of  this  section  shall apply to kinds of insurance the rates for which
were previously subject to subsection (a) of this section or  the  rates
for  which  are  not  required to be filed pursuant to subsection (b) of
section two thousand three hundred ten of this article or the rates  for
which  have  been  suspended  from  the  filing  requirement pursuant to
section two thousand three hundred eleven of this article.
  S 5. Section 2342 of the insurance law, as amended by chapter  102  of
the laws of 2011, is amended to read as follows:
  S 2342. Expiration of certain provisions. The provisions of subsection
(c)  of  section  two thousand three hundred seven, section two thousand
three hundred eight,  subsection  (a)  of  section  two  thousand  three
hundred  ten,  sections two thousand three hundred sixteen, two thousand
three hundred twenty, two thousand three hundred twenty-three, two thou-
sand three hundred twenty-six, and two thousand  three  hundred  thirty-
five,  AND  subsection (b) of section two thousand three hundred thirty-
six [and section two thousand three hundred forty-one] of  this  article
shall cease to be of any force or effect during the period August third,
two  thousand  one  through  the  day  before  the effective date of the
property/casualty insurance availability act, and after June  thirtieth,
two thousand [fourteen] NINETEEN.
  S  6.  Subsection (h) of section 2344 of the insurance law, as amended
by chapter 102 of the laws of 2011, is amended to read as follows:
  (h) This section shall cease to be of any force or effect  during  the
period  August third, two thousand one through the day before the effec-
tive date of the property/casualty insurance availability act, and after
June thirtieth, two thousand  [fourteen]  NINETEEN,  except  that  rates
shall  reflect the likely reductive cost effects reasonably attributable
to the statutory provisions specified in paragraph one of subsection (g)
of this section.
  S 7. Subsection (g) of section 5412 of the insurance law,  as  amended
by chapter 102 of the laws of 2011, is amended to read as follows:
  (g)  The  provisions of this section shall cease to be of any force or
effect on or after June thirtieth,  two  thousand  [fourteen]  NINETEEN,
except that policies issued or other obligations incurred by the associ-
ation  shall  not  be impaired by the expiration of this section and the
association shall continue for the purpose of  servicing  such  policies
and performing such obligations.
  S 8. This act shall take effect immediately.

                                 PART C

  Section  1. Section 6 of chapter 322 of the laws of 2007, amending the
banking law relating to the  power  of  banks,  private  bankers,  trust
companies,  savings  banks,  saving and loan associations, credit unions
and foreign banking corporations to  exercise  the  rights  of  national
banks,  federal  savings associations, federal credit unions and federal
branches and agencies of foreign banks, as amended by section 95 of part
A of chapter 62 of the laws of 2011, is amended to read as follows:
  S 6. This act shall take effect immediately;  provided,  however  that
sections  one, two, three and four of this act shall take effect Septem-
ber 1, 2007; and provided further that sections one, two, three and four

S. 6966                             7

of this act shall expire and be deemed  repealed  September  10,  [2014]
2017;  and provided further that any federally permitted powers approved
under section three of this act shall remain in full force and effect on
and after such repeal date and shall not be affected by such repeal.
  S  2. Section 7 of chapter 3 of the laws of 1997, amending the banking
law and the insurance law relating to authorizing the banking  board  to
permit  banks  and  trust  companies  to exercise the rights of national
banks, as amended by section 95-a of part A of chapter 62 of the laws of
2011, is amended to read as follows:
  S 7. This act shall take effect immediately provided that section  two
of  this  act shall take effect on the thirtieth day after it shall have
become a law and shall apply to violations prescribed in section  44  of
the  banking  law that occur on or after such date; and provided further
that sections one, three, four and  five  shall  expire  and  be  deemed
repealed  September 10, [2014] 2017; and provided further that any rules
and regulations promulgated pursuant to sections one,  three,  four  and
five  shall remain in full force and effect on and after such expiration
date and shall not be affected by such expiration date.
  S 3. This act shall take effect immediately.

                                 PART D

  Section 1. Subdivisions a and e of section 25 of chapter  507  of  the
laws  of 2009 amending the real property actions and proceedings law and
other laws relating to foreclosure actions on home mortgage  loans,  are
amended to read as follows:
  a. Sections one, one-a, two and three of this act shall take effect on
the thirtieth day after this act shall have become a law and shall apply
to  notices  required  on  or  after  such date; provided, however, that
section one-a of this act shall expire and be deemed repealed  [5  years
after such effective date] JANUARY 14, 2020;
  e.  Section  nine  of  this  act shall take effect on the sixtieth day
after this act shall have become a law and shall apply to legal  actions
filed  on  or  after such date; provided, however that the amendments to
subdivision (a) of rule 3408 of the civil practice law and rules made by
such section shall expire and be deemed repealed  [5  years  after  such
effective date] JANUARY 14, 2020;
  S 2. This act shall take effect immediately.
  S 2. Severability clause. If any clause, sentence, paragraph, subdivi-
sion, section or part of this act shall be adjudged by a court of compe-
tent jurisdiction to be invalid, such judgment shall not affect, impair,
or invalidate the remainder thereof, but shall be confined in its opera-
tion  to  the  clause, sentence, paragraph, subdivision, section or part
thereof directly involved in the  controversy  in  which  such  judgment
shall  have been rendered. It is hereby declared to be the intent of the
legislature that this act would have been enacted even if  such  invalid
provisions had not been included herein.
  S  3.  This  act shall take effect immediately provided, however, that
the applicable effective date of Parts A through D of this act shall  be
as specifically set forth in the last section of such Parts.

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Senate Bill S6966

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee

co-Sponsors

2013-S6966 (ACTIVE) - Details

2013-S6966 (ACTIVE) - Summary

2013-S6966 (ACTIVE) - Sponsor Memo

2013-S6966 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S6966

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Sponsored By

James L. Seward

Archive: Last Bill Status - In Senate Committee Insurance Committee

co-Sponsors

Joseph A. Griffo

2013-S6966 (ACTIVE) - Details

2013-S6966 (ACTIVE) - Summary

2013-S6966 (ACTIVE) - Sponsor Memo

2013-S6966 (ACTIVE) - Bill Text download pdf

Comments