STATE OF NEW YORK
________________________________________________________________________
10227
IN ASSEMBLY
May 9, 2022
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Cahill) --
read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to extending certain
provisions relating to medical malpractice insurers
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 1325 of the insurance law, as amended by chapter
2 435 of the laws of 2019, is amended to read as follows:
3 § 1325. Exemption. For the purposes of exempting certain insurance
4 companies from the provisions of section one thousand three hundred
5 twenty-four of this article, the superintendent shall exempt, through
6 December thirty-first, two thousand [twenty-two] twenty-five, those
7 stock and non-stock insurance companies to which subparagraph (B) of
8 paragraph two of subsection (b) of such section applies.
9 § 2. Subsection (c) of section 2343 of the insurance law, as amended
10 by chapter 435 of the laws of 2019, is amended to read as follows:
11 (c) Notwithstanding any other provision of this chapter, no applica-
12 tion for an order of rehabilitation or liquidation of a domestic insurer
13 whose primary liability arises from the business of medical malpractice
14 insurance, as that term is defined in subsection (b) of section five
15 thousand five hundred one of this chapter, shall be made on the grounds
16 specified in subsection (a) or (c) of section seven thousand four
17 hundred two of this chapter at any time prior to December thirty-first,
18 two thousand [twenty-two] twenty-five.
19 § 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD15529-01-2
