New York A 5085: Provides for the inclusion of low income credit unions in the banking development district program in N.Y. city

Bill Text

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A05085 Summary:

BILL NOA05085 

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SAME ASSAME AS S05237

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SPONSORHunter

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COSPNSR

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MLTSPNSR

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Amd §2132, Ins L

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Relates to authorizing the superintendent of financial services to grant three credit hours of continuing education for a licensees' active membership in a statewide professional insurance producer association.

Go to top A05085 Actions:

BILL NOA05085 

&nbsp

02/12/2025referred to insurance

01/07/2026referred to insurance

Go to topA05085 Committee&nbspVotes:

Go to topA05085 Floor&nbspVotes:

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

Go to topA05085 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5085

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 12, 2025
 ___________

 Introduced by M. of A. HUNTER -- read once and referred to the Committee
 on Insurance

 AN ACT to amend the insurance law, in relation to the granting of
 continuing education credits by the superintendent of financial
 services

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

 1 Section 1. Subsection (c) of section 2132 of the insurance law is
 2 amended by adding a new paragraph 4 to read as follows:
 3 (4) The superintendent shall grant three credit hours for a licensees'
 4 active membership in a statewide professional insurance producer associ-
 5 ation, per biennial period.
 6 (A) For the purpose of this paragraph, a "statewide professional
 7 insurance producer association" shall be defined as an association that
 8 has been in existence for at least ten years, which derives its member-
 9 ship from amongst those persons that have been issued an insurance
 10 producer's license by the superintendent, and which is dedicated to the
 11 promotion of the integrity, trust, professionalism and business inter-
 12 ests of its membership through education, advocacy, social interaction
 13 and the development of ethical and sound business practices including,
 14 but not limited to, a professional publication or journal that is issued
 15 not less than four times a year; issuance of not less than six guidance
 16 or fact-based policy statements or instructional memoranda on topics
 17 pertaining to professional practice, customer service, ethics or a
 18 substantive issue; or distribution of not less than twelve such state-
 19 ments or memoranda produced by another organization.
 20 (B) For the purpose of this paragraph, 'active membership' means: (i)
 21 certification by the licensee to the superintendent that the member was
 22 in good standing with dues paid in full for the previous biennial peri-
 23 od; (ii) certification to the superintendent by the licensee that the
 24 member has read the professional insurance producer association's code

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08597-01-5

 A. 5085 2

 1 of ethics; and (iii) certification to the superintendent by the licensee
 2 that the licensee has attended at least one course, program of instruc-
 3 tion or seminar that meets the requirements of this section sponsored by
 4 the professional insurance producer association each year during the
 5 previous biennial period.
 6 (C) The professional insurance producer association shall file with
 7 the superintendent annually, by January thirty-first, a list of all
 8 members in good standing for the previous year, the current code of
 9 ethics, and any other information that the superintendent shall require
 10 in order to implement the provisions of this paragraph.
 11 § 2. This act shall take effect immediately.

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