New York S 5048: Relates to requiring new employees to be provided certain information relating to student loan repayment information

Bill Text

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 New York State Assembly

 Speaker Carl E. Heastie

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S05048 Summary:

BILL NOS05048A

&nbsp

SAME ASSAME AS A00979-A

&nbsp

SPONSORBAILEY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §7903, Ins L

&nbsp

Relates to contractual liability insurance policies; provides that each provider may maintain a maximum of five service contract reimbursement insurance policies insuring its service contracts actively offered.

Go to top S05048 Actions:

BILL NOS05048A

&nbsp

02/18/2025REFERRED TO INSURANCE

05/16/2025AMEND AND RECOMMIT TO INSURANCE

05/16/2025PRINT NUMBER 5048A

05/28/20251ST REPORT CAL.1448

05/29/20252ND REPORT CAL.

06/04/2025ADVANCED TO THIRD READING 

06/09/2025SUBSTITUTED BY A979A

&nbspA00979 AMEND=A Lunsford

&nbsp01/08/2025referred to insurance

&nbsp04/15/2025amend and recommit to insurance

&nbsp04/15/2025print number 979a

&nbsp05/13/2025reported 

&nbsp05/15/2025advanced to third reading cal.142

&nbsp05/20/2025passed assembly

&nbsp05/20/2025delivered to senate

&nbsp05/20/2025REFERRED TO INSURANCE

&nbsp06/09/2025SUBSTITUTED FOR S5048A

&nbsp06/09/20253RD READING CAL.1448

&nbsp06/09/2025PASSED SENATE

&nbsp06/09/2025RETURNED TO ASSEMBLY

&nbsp10/09/2025delivered to governor

&nbsp10/16/2025signed chap.441

Go to topS05048 Committee&nbspVotes:

Go to topS05048 Floor&nbspVotes:

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

Go to topS05048 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5048--A

 2025-2026 Regular Sessions

 IN SENATE

 February 18, 2025
 ___________

 Introduced by Sen. BAILEY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Insurance -- committee
 discharged, bill amended, ordered reprinted as amended and recommitted
 to said committee

 AN ACT to amend the insurance law, in relation to contractual liability
 insurance policies

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

 1 Section 1. Paragraph 1 of subsection (c) of section 7903 of the insur-
 2 ance law, as amended by chapter 578 of the laws of 2000, is amended to
 3 read as follows:
 4 (1) insure the performance of [all] its obligations under all service
 5 contracts pursuant to a service contract reimbursement insurance policy
 6 issued by an insurer authorized to issue service contract reimbursement
 7 insurance in this state or procured by an excess line licensee pursuant
 8 to section two thousand one hundred eighteen of this chapter. Each
 9 provider may maintain a maximum of five service contract reimbursement
 10 insurance policies insuring its service contracts actively offered. In
 11 the event the provider fails to insure its obligations pursuant to this
 12 paragraph or in the event that such insurance shall lapse or be termi-
 13 nated, the provider shall comply with either paragraph two or three of
 14 this subsection within forty-five days of the insurance lapse or termi-
 15 nation;
 16 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01514-03-5

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