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NY A03028
Bill
Status
10/16/2025
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 store required records electronically rather than only in physical form at their principal office
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Permits storage of charters, by-laws, books of account, shareholder records, and meeting minutes on internet-accessible servers, internal servers hosted by the insurer or affiliates, or with third-party service providers
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Requires electronic records to be easily accessible from the insurer's principal office in New York State
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Mandates compliance with all applicable state and federal laws and regulations when using electronic storage
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Takes effect immediately upon passage
Legislative Description
Allows domestic insurers to make certain records available by electronic means if they are easily accessible from the insurer's principal office in this state and the insurer complies with all applicable state and federal laws and regulations.
Last Action
signed chap.446
10/16/2025