NY A07376

Amends New York Banking Law by adding section 578-a to permit electronic delivery of notices and documents in premium finance transactions, provided they comply with Article 3 of the State Technology Law.

Requires affirmative written consent from parties (insureds, agents, brokers, insurers) before electronic delivery, with clear disclosure of withdrawal rights, types of notices covered, hardware/software requirements, and procedures to update contact information.

Permits electronic delivery via email or posting on an internet-accessible network with separate electronic notice, and allows delivery to email addresses not shown on the original premium finance agreement.

Requires premium finance agencies to include clear, conspicuous language in the subject line and body of emails containing cancellation notices to alert recipients of the importance and type of notice being delivered.

Requires agencies to provide updated disclosure statements and reconfirm consent if hardware or software changes create material risk that parties cannot access future documents, and mandates paper delivery if electronic delivery fails or email addresses become invalid.