Bill Text: NY A03214 | 2019-2020 | General Assembly | Amended


Bill Title: Relates to immunity from civil liability and information furnished to or from the National Insurance Crime Bureau, which is dedicated to the investigation and prosecution of the banking law or the insurance law.

Spectrum: Partisan Bill (Democrat 13-0)

Status: (Engrossed) 2019-05-06 - RETURNED TO ASSEMBLY [A03214 Detail]

Download: New_York-2019-A03214-Amended.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                         3214--A
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 28, 2019
                                       ___________
        Introduced  by  M. of A. COOK, WRIGHT, DICKENS, GOTTFRIED, SAYEGH, HYND-
          MAN, RICHARDSON, GRIFFIN, TAYLOR, WILLIAMS, ARROYO --  Multi-Sponsored
          by  --  M. of A.   BUTTENSCHON, SIMON -- read once and referred to the
          Committee on Banks -- reported and referred to the Committee on  Codes
          --  committee  discharged,  bill amended, ordered reprinted as amended
          and recommitted to said committee
        AN ACT to amend the financial services law, in relation to immunity from
          civil liability for certain information relating to insurance or bank-
          ing violations
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section  405  of the financial services law is amended to
     2  read as follows:
     3    § 405. Immunity. In the absence of  fraud  or  bad  faith,  no  person
     4  subject to the provisions of this chapter, the banking law or the insur-
     5  ance  law  shall  be  subject  to civil liability, and no civil cause of
     6  action of any nature shall arise against such person for any: (a) infor-
     7  mation relating to suspected violations of the banking law or the insur-
     8  ance law furnished  to  law  enforcement  officials,  their  agents  and
     9  employees; (b) information relating to suspected violations of the bank-
    10  ing  law  or the insurance law furnished to other persons subject to the
    11  provisions of this chapter; [and] (c) information furnished  in  reports
    12  to  the  financial  frauds  and  consumer protection unit, its agents or
    13  employees or any state agency investigating fraud or misconduct relating
    14  to financial  fraud,  its  agents  or  employees;  and  (d)  information
    15  furnished  to  or  from  the  National  Insurance  Crime Bureau. For the
    16  purposes of this section  the  National  Insurance  Crime  Bureau  is  a
    17  nonprofit  dedicated to investigation and enforcement of the banking law
    18  or the insurance law.  The superintendent or any employee of the  finan-
    19  cial frauds and consumer protection unit, in the absence of fraud or bad
    20  faith,  shall  not  be  subject to civil liability and no civil cause of
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08049-04-9

        A. 3214--A                          2
     1  action of any nature shall arise against the superintendent or any  such
     2  employee  by virtue of the publication of any report or bulletin related
     3  to  the  official  activities  of  the  financial  frauds  and  consumer
     4  protection unit. Nothing herein is intended to abrogate or modify in any
     5  way  any  common  law  privilege  or  immunity heretofore enjoyed by any
     6  person.
     7    § 2. This act shall take effect immediately.
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