STATE OF NEW YORK
________________________________________________________________________
10952
IN ASSEMBLY
August 17, 2020
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Cusick) --
read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to removing the bonding
requirement for independent adjusters
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph 1 of subsection (l) of section 2108 of the insur-
2 ance law is amended to read as follows:
3 (1) No adjuster's license or renewal license, other than an independ-
4 ent adjuster's license, shall be issued to any applicant unless there
5 shall be on file with the superintendent of financial services a bond,
6 executed by such [the] applicant and by approved sureties, in the penal
7 sum of one thousand dollars conditioned on the faithful performance by
8 such licensee and by all sub-licensees named in such license, of their
9 duties as such adjusters.
10 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD16746-01-0
