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NY A08174
Bill
Status
7/7/2021
Primary Sponsor
Erik Dilan
Click for details
AI Summary
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Amends Insurance Law Section 325 to allow domestic insurers and licensed U.S. branches of alien insurers to maintain required records through electronic means instead of exclusively at their principal office in New York State.
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Electronic records must provide equivalent access to the superintendent as physical records maintained on-site.
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Applies to charter and by-laws, books of account, shareholder records (for stock corporations), and meeting minutes for shareholders, policyholders, board of directors, and committees.
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Records maintained in languages other than English must continue to be accompanied by accurate English translations.
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Takes effect immediately upon enactment.
Legislative Description
Allows domestic insurers to make certain records available by electronic means that provides equivalent access to the superintendent.
Last Action
referred to insurance
1/5/2022