NY S02704

Allows the superintendent of insurance to issue licenses to new applicants for terms exceeding the standard two years, up to a maximum of thirty months.

Applies to insurance agent licenses (Section 2103), insurance broker licenses (Section 2104), associate broker licenses (Section 2105), insurance consultant licenses (Section 2107), and adjuster licenses (Section 2108).

Replaces existing language that restricted licenses to two-year terms or the balance thereof with new authority to extend initial license terms for new applicants only.

Takes effect ninety days after becoming law.