A04168 Summary:

BILL NOA04168
 
SAME ASSAME AS S03565
 
SPONSORWeprin (MS)
 
COSPNSRJacobs, Barron, Cahill, Rivera N, Rivera P
 
MLTSPNSRAubry, Brennan, Gottfried, Magee, Peoples-Stokes, Sweeney
 
Amd S76, Work Comp L
 
Directs state insurance fund to offer title insurance and authorizes superintendent of insurance to implement such program.
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A04168 Actions:

BILL NOA04168
 
02/01/2011referred to labor
01/04/2012referred to labor
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A04168 Floor Votes:

There are no votes for this bill in this legislative session.
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A04168 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4168
 
                               2011-2012 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 1, 2011
                                       ___________
 
        Introduced  by  M.  of  A.  WEPRIN, JACOBS, BARRON, CAHILL, N. RIVERA --
          Multi-Sponsored by -- M.   of A.  AUBRY,  BRENNAN,  GOTTFRIED,  MAGEE,
          PEOPLES-STOKES,  SWEENEY -- read once and referred to the Committee on
          Labor
 
        AN ACT to amend the workers' compensation law, in relation to  directing

          the  state  insurance fund to offer title insurance or certificates of
          clear title
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section 76 of the workers' compensation law is amended by
     2  adding a new subdivision 6 to read as follows:
     3    6. The purposes of the state insurance fund created  in  this  section
     4  are hereby enlarged to permit it to furnish title insurance policies, as
     5  defined  in  subsection  (b) of section six thousand four hundred one of
     6  the insurance law, and/or certificates of clear title. A  separate  fund
     7  is  hereby created within the state insurance fund, which shall be known
     8  as the "title insurance fund", and which shall consist of  all  premiums

     9  received and paid into said fund on account of such insurance, all secu-
    10  rities  acquired by and through the use of moneys belonging to said fund
    11  and of interest earned upon moneys belonging to said fund and  deposited
    12  or  invested  as  herein  provided.  Said  title insurance fund shall be
    13  applicable to the payments, expenses and assessments on account of title
    14  insurance policies written pursuant to the rules and regulations  estab-
    15  lished by the superintendent of insurance.
    16    § 2. The superintendent of insurance is hereby:
    17    1. directed to create, within the insurance department, a title insur-
    18  ance  bureau  which  shall  implement the title insurance program estab-
    19  lished by this act; and
    20    2. authorized to prescribe, amend and withdraw rules  and  regulations

    21  implementing  the provisions of subdivision 6 of section 76 of the work-
    22  ers' compensation law, as added by section one of this act.
    23    § 3. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05045-01-1
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