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A00362 Summary:

BILL NO	A00362
SAME AS	No Same As
SPONSOR	Weprin
COSPNSR
MLTSPNSR
Authorizes the superintendent of financial services to conduct a study and make recommendations on title insurance premium rates in NYS.

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A00362 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           362
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                       (Prefiled)
 
                                     January 8, 2025
                                       ___________
 
        Introduced by M. of A. WEPRIN -- read once and referred to the Committee
          on Insurance
 
        AN ACT in relation to directing the superintendent of financial services
          to conduct a study and issue a report regarding title insurance premi-
          um rates

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. 1. The  superintendent  of  financial  services  is  hereby
     2  authorized and directed to conduct a comprehensive study on title insur-
     3  ance premium rates.
     4    2.  Within  one year of the effective date of this act the superinten-
     5  dent of financial services shall issue a report to the governor and  the
     6  legislature. Such study and report shall include but shall not be limit-
     7  ed to:
     8    a. an analysis of title insurance premium rates in New York state;
     9    b. steps that can be taken to reduce such rates; and
    10    c.  what  service  charges are regularly added to customers' bills for
    11  title services.
    12    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01187-01-5

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