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NY A10414
Bill
Status
Engrossed
6/18/2012
Primary Sponsor
Amy Paulin
Click for details
AI Summary
- Amends General Municipal Law Section 6-n to modify which types of insurance risks are excluded from municipal insurance reserve fund expenditures
- Removes paragraph three from the list of excluded risk categories under Insurance Law Section 1113(a), narrowing the restrictions on reserve fund use
- Preserves existing prohibitions preventing municipalities from using insurance reserve funds for risks covered by paragraphs one, two, fifteen, sixteen, seventeen, eighteen, twenty-two, or twenty-three of Insurance Law Section 1113(a)
- Maintains existing restriction preventing municipalities from making reserve fund expenditures when a separate reserve fund has been established for the same loss, claim, action, or judgment under another law provision
- Takes effect immediately upon enactment
Legislative Description
Relates to limitations on expenditures from the insurance reserve fund and narrows the exclusions.
Last Action
REFERRED TO RULES
6/18/2012
Committee Referrals
Rules6/18/2012
Rules6/11/2012
Ways and Means6/5/2012
Local Governments5/25/2012
Full Bill Text
No bill text available