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S06547 Summary:

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S06547 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6547
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                      June 15, 2019
                                       ___________
 
        Introduced  by  Sen. BRESLIN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
 
        AN ACT to amend the insurance law,  in  relation  to  extending  certain
          provisions related 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 section  1
     2  of  part  X  of  chapter  57  of the laws of 2015, is amended to read as
     3  follows:
     4    § 1325. Exemption. For the purposes  of  exempting  certain  insurance
     5  companies  from  the  provisions  of  section one thousand three hundred
     6  twenty-four of this article, the superintendent  shall  exempt,  through
     7  December  thirty-first,  two thousand [nineteen] twenty-two, those stock
     8  and non-stock insurance companies to which subparagraph (B) of paragraph
     9  two of subsection (b) of such section applies.
    10    § 2. Subsection (c) of section 2343 of the insurance law,  as  amended
    11  by  section 2 of part X of chapter 57 of the laws of 2015, is amended to
    12  read as follows:
    13    (c) Notwithstanding any other provision of this chapter,  no  applica-
    14  tion for an order of rehabilitation or liquidation of a domestic insurer
    15  whose  primary liability arises from the business of medical malpractice
    16  insurance, as that term is defined in subsection  (b)  of  section  five
    17  thousand  five hundred one of this chapter, shall be made on the grounds
    18  specified in subsection (a)  or  (c)  of  section  seven  thousand  four
    19  hundred  two of this chapter at any time prior to December thirty-first,
    20  two thousand [nineteen] twenty-two.
    21    § 3. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13376-01-9