New York A 1688: Relates to the definition of residence and residential real property

Bill Text

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A01688 Summary:

BILL NOA01688 

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SAME ASNo Same As

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SPONSORWeprin

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COSPNSR

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MLTSPNSR

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Amd §76, Work Comp L

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Directs the state insurance fund to offer title insurance; authorizes the superintendent of financial services to implement such program.

Go to top A01688 Actions:

BILL NOA01688 

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01/14/2025referred to labor

01/07/2026referred to labor

Go to topA01688 Committee&nbspVotes:

Go to topA01688 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA01688 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1688

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 14, 2025
 ___________

 Introduced by M. of A. WEPRIN -- read once and referred to the Committee
 on Labor

 AN ACT to amend the workers' compensation law, in relation to directing
 the state insurance fund to offer title insurance or certificates of
 clear title

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 76 of the workers' compensation law is amended by
 2 adding a new subdivision 6 to read as follows:
 3 6. The purposes of the state insurance fund created in this section
 4 are hereby enlarged to permit it to furnish title insurance policies, as
 5 defined in subsection (b) of section six thousand four hundred one of
 6 the insurance law, and/or certificates of clear title. A separate fund
 7 is hereby created within the state insurance fund, which shall be known
 8 as the "title insurance fund", and which shall consist of all premiums
 9 received and paid into said fund on account of such insurance, all secu-
 10 rities acquired by and through the use of moneys belonging to said fund
 11 and of interest earned upon moneys belonging to said fund and deposited
 12 or invested as herein provided. Said title insurance fund shall be
 13 applicable to the payments, expenses and assessments on account of title
 14 insurance policies written pursuant to the rules and regulations estab-
 15 lished by the superintendent of financial services.
 16 § 2. The superintendent of financial services is hereby:
 17 1. directed to create, within the insurance department, a title insur-
 18 ance bureau which shall implement the title insurance program estab-
 19 lished by this act; and
 20 2. authorized to prescribe, amend and withdraw rules and regulations
 21 implementing the provisions of subdivision 6 of section 76 of the work-
 22 ers' compensation law, as added by section one of this act.
 23 § 3. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03708-01-5

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