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A07317 Summary:

BILL NOA07317A
 
SAME ASSAME AS S07975
 
SPONSORBraunstein
 
COSPNSR
 
MLTSPNSR
 
Add Art 70-A §§7013 - 7018, Ins L
 
Enacts the "New York small contractor relief act"; defines terms; authorizes a small contractor captive insurance company to purchase, and the New York state insurance fund shall be authorized and directed to provide, reinsurance and retrocession reinsurance for such captive insurance company, on either a quota share arrangement or facultative arrangement at a rate to be determined by the board of the fund; provides that a small contractor captive insurance company organized pursuant to this article shall not refuse to issue, renew or cancel a policy of any qualified small construction contractor based upon geographic location or line of business engaged in by such contractor; makes related provisions.
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