NY A01502

Adds new Section 51 to Navigation Law requiring all public vessels registered in New York State to maintain proof of financial security meeting Vehicle and Traffic Law requirements.

Mandates liability insurance coverage of at least $25,000 per passenger as proof of financial security for public vessel registration.

Requires vessel owners to continuously maintain proof of financial security throughout the registration period and produce it upon demand by magistrates, peace officers, or police officers operating on state navigable waters.

Failure to produce proof of financial security when requested constitutes presumptive evidence of illegal operation; owners must surrender registration certificates if insurance is terminated unless alternative proof of financial security is maintained.

Authorizes the Commissioner to promulgate rules and regulations for administration and enforcement of these requirements, effective 60 days after the bill becomes law.