BILL NUMBER: S5356
SPONSOR: COMRIE
 
TITLE OF BILL:
An act to amend the insurance law, in relation to the disbursement of
foreign fire insurance premiums
 
PURPOSE:
This bill would allow localities to adopt local laws to ensure compli-
ance with article 91 of the state insurance law.
 
SUMMARY OF PROVISIONS:
Section 1 adds a new section 9112 to the state insurance law to allow
for cities, towns and villages to adopt local laws to ensure compliance
with article 91 of the state insurance law, specifically related to
foreign fire insurance.
Section 2 establishes the effective date.
 
JUSTIFICATION:
Since 1989, the distribution and use of foreign fire insurance funds has
been outlined under sections 9104 and 9205 of the state insurance law.
However, there are local laws and special laws enacted by the legisla-
ture that predate sections 9104 and 9105, many of which date back to the
early 19002 and include terminology and various entities that are no
longer in use.
This legislation would provide an avenue for local governments to update
their antiquated and outdated laws related to the disbursement of
foreign fire insurance.
 
LEGISLATIVE HISTORY:
S.3549 of 23-24
S.713 of 2021-2022
S1605 of 2020
S8911 of 2018
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
This act shall take effect immediately.