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NY S04863

Bill

Official Source

Status

Engrossed

5/16/2024

Primary Sponsor

Jeremy Cooney

Click for details

Origin

Senate

2023-2024 General Assembly

AI Summary

  • Amends Insurance Law Section 1101(b) to exclude non-indemnity legal service plans from being classified as insurance business in New York State.

  • Defines a non-indemnity legal service plan as any arrangement where legal services are available to members or their dependents through an organization that contracts directly with independent attorneys and pays them via capitated arrangements with no additional reimbursement for specified services or expenses.

  • Takes effect thirty days after becoming law.

Legislative Description

Provides that the sale of a non-indemnity legal service plan shall not constitute doing an insurance business in this state; makes related provisions.

Last Action

referred to insurance

5/16/2024

Committee Referrals

Insurance5/16/2024
Insurance1/3/2024
Rules6/10/2023
Insurance2/16/2023

Full Bill Text

No bill text available