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History
- Signed chap.442
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading cal.636
- Substituted for A6435A
- Referred to insurance
- Delivered to assembly
- Passed senateVote 60–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.279
Show 11 earlier actions
- Referred to insurance
- Returned to senate
- Died in assembly
- Referred to insurance
- Delivered to assembly
- Passed senateVote 62–0
- Amended on third reading 2704a
- Advanced to third reading
- 2nd report cal.
- 1st report cal.88
- Referred to insurance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to license terms for new applicants for certain insurance licenses
Assembly Floor Calendar · Sponsor Joseph Morelle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S2704A
Title of bill
An act to amend the insurance law, in relation to license terms of new applicants
Purpose
To allow the Superintendent of Insurance to issue licenses to new applicants for a term longer than twenty-four months.
Summary of provisions
Amends sections 2103, 2104, 2105, 2107 and 2108 of the insurance law to allow the Superintendent of Insurance to issue licenses to new applicants for a term longer than twenty-four months, but not to exceed a term of thirty months.
Justification
Licenses for insurance agents expire on an insurance agent's birth date every other year. The licenses are issued for a term of twenty-four months. When an agent makes an initial application, however, the term is much shorter if the agent's date of birth is shortly following the initial application. Currently, there is no provision in the law that allows for an extended period of time for a license to be issued to an initial applicant. The result is applicants must apply and obtain a new license immediately following the issuance of the initial license. Allowing the Superintendent to extend the initial license period will streamline the process for both applicants and New York State Department of Insurance.
Legislative history
New bill.
Fiscal implications
None.
Effective date
This act shall take effect on the ninetieth day after becoming a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.