Bill Text: NY A05456 | 2017-2018 | General Assembly | Introduced

New York Assembly Bill 5456 (Prior Session Legislation)

Introduced

Bill Title: Authorizes superintendent of financial services to conduct a study and make recommendations on title insurance premium rates in NYS.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced - Dead) 2018-01-03 - referred to insurance [A05456 Detail]

Download: New_York-2017-A05456-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          5456
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 9, 2017
                                       ___________
        Introduced  by  M.  of A. WEPRIN -- Multi-Sponsored by -- M. of A. GOTT-
          FRIED, MAGEE, PEOPLES-STOKES -- read once and referred to the  Commit-
          tee on Insurance
        AN ACT in relation to directing the superintendent of financial services
          to conduct a study and issue a report regarding title insurance premi-
          um rates
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. 1. The  superintendent  of  financial  services  is  hereby
     2  authorized and directed to conduct a comprehensive study on title insur-
     3  ance premium rates.
     4    2.  Within  one year of the effective date of this act the superinten-
     5  dent of financial services shall issue a report to the governor and  the
     6  legislature. Such study and report shall include but shall not be limit-
     7  ed to:
     8    a. an analysis of title insurance premium rates in New York state;
     9    b. steps that can be taken to reduce such rates; and
    10    c.  what  service  charges are regularly added to customers' bills for
    11  title services.
    12    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00490-01-7