Assembly Bill A7908

Signed By Governor
2011-2012 Legislative Session

Requires the state insurance fund to file annual audited financial statements with the office of the state comptroller

download bill text pdf

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Archive: Last Bill Status - 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

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2011-A7908 (ACTIVE) - Details

See Senate Version of this Bill:
S5540
Law Section:
Workers' Compensation Law
Laws Affected:
Amd §99, Work Comp L

2011-A7908 (ACTIVE) - Summary

Requires the state insurance fund to file annual audited financial statements with the office of the state comptroller.

2011-A7908 (ACTIVE) - Bill Text download pdf 

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

                                  7908

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 23, 2011
                               ___________

Introduced  by M. of A. MORELLE -- (at request of the State Comptroller)
  -- read once and referred to the Committee on Insurance

AN ACT to amend the workers' compensation law, in relation to  requiring
  the  state  insurance fund to file annual audited financial statements
  with the office of the state comptroller

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

  Section 1.  Section 99 of the workers' compensation law, as amended by
chapter 805 of the laws of 1984, is amended to read as follows:
  S  99.  Reports  of  state  insurance  fund[; examination by insurance
department]. 1. The commissioners shall make  separate  reports  to  the
superintendent  of  insurance concerning the state insurance fund at the
same time and in the same manner as is required from  mutual  employer's
liability  and  workers'  compensation  corporations  by  section  three
hundred seven of the insurance law, and the superintendent of  insurance
may examine into the condition of such state insurance fund at any time,
either  personally  or  by any duly authorized examiner appointed by him
for the purpose of determining the condition of the investments and  the
adequacy of the reserves of such fund and such other matters as shall be
in the jurisdiction of the superintendent of insurance.
  2.  THE  COMMISSIONERS SHALL FILE ANNUALLY WITH THE STATE COMPTROLLER,
ON OR BEFORE JUNE FIFTEENTH, FINANCIAL STATEMENTS FOR THE  STATE  INSUR-
ANCE  FUND  AUDITED  BY AN INDEPENDENT AUDITOR. SUCH STATEMENTS SHALL BE
PREPARED IN THE SAME MANNER AS REPORTS FILED WITH THE SUPERINTENDENT  OF
INSURANCE UNDER SUBDIVISION ONE OF THIS SECTION. A COPY OF THE INDEPEND-
ENT  AUDITOR'S REPORT SHALL ACCOMPANY ANY FINANCIAL STATEMENTS SUBMITTED
PURSUANT TO THIS SUBDIVISION.
  S 2. This act shall take effect on the first of January next  succeed-
ing the date on which it shall have become a law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11123-01-1

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