STATE OF NEW YORK
________________________________________________________________________
4984
2023-2024 Regular Sessions
IN ASSEMBLY
February 27, 2023
___________
Introduced by M. of A. D. ROSENTHAL -- read once and referred to the
Committee on Insurance
AN ACT to amend the insurance law, in relation to the excess line asso-
ciation, and to amend chapter 630 of the laws of 1988, amending the
insurance law relating to establishing an excess line advisory organ-
ization, in relation to the effectiveness thereof
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:
1 Section 1. Section 5 of chapter 630 of the laws of 1988, amending the
2 insurance law relating to establishing an excess line advisory organiza-
3 tion, as amended by chapter 488 of the laws of 2018, is amended to read
4 as follows:
5 § 5. This act shall take effect January 1, 1989 and shall cease to be
6 of any force or effect after July 1, [2024] 2029.
7 § 2. Paragraph 1 of subsection (a) of section 2130 of the insurance
8 law, as added by chapter 630 of the laws of 1988, is amended to read as
9 follows:
10 (1) receive and record all excess line insurance documents which
11 excess line brokers are required to file with the association under
12 section two thousand one hundred eighteen of this article. All records
13 which an excess line broker is required to maintain under section two
14 thousand one hundred eighteen of this article shall be subject to exam-
15 ination by the excess line association;
16 § 3. Paragraph 11 of subsection (a) of section 2130 of the insurance
17 law, as added by chapter 630 of the laws of 1988, is amended and a new
18 paragraph 12 is added to read as follows:
19 (11) provide such other services to its members as are incidental or
20 related to the purposes of the association[.];
21 (12) utilize the authority granted to unincorporated associations
22 pursuant to section twelve of the general associations law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08618-01-3
A. 4984 2
1 § 4. This act shall take effect immediately; provided, however, the
2 amendments to section 2130 of the insurance law made by sections two and
3 three of this act shall not affect the expiration of such section and
4 shall expire and be deemed repealed therewith.