A08494 Summary:
| BILL NO | A08494 |
| SAME AS | SAME AS S08097 |
| SPONSOR | Weprin |
| COSPNSR | |
| MLTSPNSR | |
| Amd §§2 & 3, Chap 394 of 2018 | |
| Relates to the time period for submitting reports regarding the valuation manual; makes provisions relating to such valuation manual permanent. | |
A08494 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 8494 2025-2026 Regular Sessions IN ASSEMBLY May 20, 2025 ___________ Introduced by M. of A. WEPRIN -- read once and referred to the Committee on Insurance AN ACT to amend chapter 394 of the laws of 2018 amending the insurance law relating to the implementation of a valuation manual and relating to directing the department of financial services to study the impact of the implementation of such valuation manual, in relation to the time period for submitting reports and making such provisions perma- nent The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 3 of section 2 and section 3 of chapter 394 of 2 the laws of 2018 amending the insurance law relating to the implementa- 3 tion of a valuation manual and relating to directing the department of 4 financial services to study the impact of the implementation of such 5 valuation manual, are amended to read as follows: 6 3. The superintendent of the department of financial services shall 7 submit a report to the governor, temporary president of the senate and 8 speaker of the assembly of the department's findings in the second[,] 9 and fifth [and seventh] years after the operative date of the valuation 10 manual. 11 § 3. This act shall take effect immediately[; and shall be deemed12repealed 10 years after it shall have become a law]. 13 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11913-01-5