NY S02377

Authorizes employees of the Insurance Frauds Bureau of the Department of Insurance designated as peace officers by the Superintendent of Insurance to apply for and execute arrest warrants and search warrants when acting pursuant to their special duties.

Repeals the initial authorization for Insurance Frauds Bureau peace officers and replaces it with authorization for employees of the Department of Financial Services designated as peace officers by the Superintendent of Financial Services to apply for and execute arrest and search warrants.

Grants designated Department of Financial Services peace officers power to execute arrest warrants under Article 120 of the Criminal Procedure Law and search warrants under Article 690 of the Criminal Procedure Law.

Takes effect 90 days after becoming law, with the Department of Financial Services provision taking effect on the same date and manner as section 1 of part A of chapter 62 of the laws of 2011.