Bill Text: NY A02387 | 2023-2024 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Allows domestic insurers to make certain records available by electronic means if they are easily accessible from the insurer's principal office in this state and the insurer complies with all applicable state and federal laws and regulations.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed - Dead) 2024-03-04 - REFERRED TO INSURANCE [A02387 Detail]

Download: New_York-2023-A02387-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2387

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 26, 2023
                                       ___________

        Introduced  by M. of A. DILAN -- read once and referred to the Committee
          on Insurance

        AN ACT to amend the insurance law,  in  relation  to  allowing  domestic
          insurers to make certain records available by electronic means

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subsection (a) of section 325  of  the  insurance  law,  as
     2  amended  by  chapter  196  of  the  laws  of 1987, is amended to read as
     3  follows:
     4    (a) Every domestic insurer and every licensed United States branch  of
     5  an alien insurer entered through this state shall, except as hereinafter
     6  provided,  keep  and  maintain at its principal office in this state, or
     7  through electronic means that provides equivalent access to  the  super-
     8  intendent,  its  charter  and  by-laws  (in  the case of a United States
     9  branch a copy thereof) and its books of account, and if a domestic stock
    10  corporation a record containing the names and addresses  of  its  share-
    11  holders,  the number and class of shares held by each and the dates when
    12  they respectively became the owners of record thereof, and if a domestic
    13  corporation the minutes of any meetings of its shareholders, policyhold-
    14  ers, board of directors and committees thereof. If any such records  are
    15  kept  in  a  language  other  than English, they shall be accompanied by
    16  accurate translations thereof.
    17    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03237-01-3