Bill Text: NY S06771 | 2015-2016 | General Assembly | Introduced

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Bill Title: Amends the definition of the term "mail" with respect to allowing electronic delivery of notices of premium finance agencies with insured consent.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-02-19 - REFERRED TO BANKS [S06771 Detail]

Download: New_York-2015-S06771-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6771
                    IN SENATE
                                    February 19, 2016
                                       ___________
        Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks
        AN ACT to amend the banking law,  in  relation  to  allowing  electronic
          delivery of notices by premium finance agencies with insured consent
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 554 of the banking law is amended by adding  a  new
     2  subdivision 10 to read as follows:
     3    10.  "Mail" means delivery by United States postal service first class
     4  mail, personal delivery, overnight delivery service, electronic email or
     5  facsimile transmission; provided that the use  of  electronic  email  or
     6  facsimile transmission by a premium finance agency with an insured is in
     7  compliance  with the consent requirements of 15 U.S.C. § 7001(c) and the
     8  regulations thereunder, as such act and regulations  may  from  time  to
     9  time be amended.
    10    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14133-02-6