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sessed valuation of the town as determined from the assessment rolls of the town as completed from time to time, the consent of the state comp; troller on behalf of the state, provided, however, that no moneys shali be appropriated to such a fund on or after the effective date of this act.

§ 4. This act shall take effect immediately.

CHAPTER 656

AN ACT to amend the insurance law, in relation to requiring, continuing education for those licensed pursuant to article 21 of such

law

and making an appropriation therefor

Became a law July 31, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present.

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

Section 1. The insurance law is amended by adding a new section 2132 to read as follows:

§ 2132. Continuing education. (a) This section shall apply to resident and non-resident persons licensed pursuant to this article with respect to the following types of insurance :

(1) life insurance, annuity contracts, variable annuity contracts and variable life insurance;

(2) sickness, accident and health insurance; and
(3) all lines of property and casualty insurance.
(b) This section shall not apply to:

(1) those persons holding licenses for which an examination is not required by the laws of this state; or

(2) any limited licensees or any other licensees as the superintendent nay exempt subject to any continuing education requirements deemed appropriate by the superintendent.

(c) Resident and non-resident persons licensed pursuant to this article and not exempt under subsection (b) of this section, and any

person previously so l'icensed whose license was not in effect on the effective date of this section and who has subsequently been relicensed

pursuant to the provisions of this article, shall biennially satisfactorily complete such courses or programs of instruction as may be approved by the superintendent, as follows:

(1) Any person holding a license, issued pursuant to this article and not exempt under subsection (b) of this section shall, during each full biennial licensing period, satisfactorily complete courses or programs of instruction or attend seminars as may be approved by the superintendent equivalent to fifteen credit hours of instruction.

(2) During the same calendar year biennial licensing period, a licensee may use accumulated continuing education credits to meet the requirement's of similar classes of licenses, as follows: (A) subsection (a) of section two thousand one hundred three and section two thousand one hundred seven of this article with respect to life insurance consultants; or (B) subsection (b) of section two thousand

hundred three, section two thousand one hundred four, and section two thousand one hundred seven of this article with respect to general insurance consultants.

(3) Excess credit hours accumulated during any biennial licensing period shall not carry forward to the next biennial licensing period for that same class of license. EXPLANATION—Matter in italics is new; matter in brackets [ ] is old law

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(d) (1) The courses or programs instruction successfully completed, which shall be deemed to meet the superintendent's standards for tinuing education requirements, shall be:

(A) courses, programs of instruction seminars, approved as to method and content by the superintendent, covering portions of the principal branches of insurance related to the kinds of insurance covered by that license, and given by a degree conferring college university whose curriculum is registered with the state education department at the time the person takes the course, whether such course be given part of such curriculum separately, or by any other institution, agents' association, trade association

which maintains equivalent standards of instruction and which shall have been approved for such purpose by the superintendent.

(B) continuing education as required by the state in which a nonresident licensee, as defined by section two thousand one hundred one of this article, resides and maintains an insurance office, provided the superintendent deems them equivalent to New York continuing education requirements. If the state in which the non-resident licensee resides and maintains an office has no continuing education requirements, or the superintendent does not deem them equivalent, the licensee must satisfy New York continuing education requirements.

(2) The number of credit hours assigned to each of the courses or programs of instruction set forth in paragraph one of this subsection shall be determined by the superintendent.

(e) Notwithstanding paragraph one of subsection (d) of this section, no course, program of instruction, or seminar developed or sponsored by any insurer, shall be deemed to meet the superintendent's standards of continuing education requirements, unless such insurer is authorized to write that class of insurance in this state.

(f) A person who teaches any approved course of instruction or who lectures at any approved seminar, and who is subject to this section, shall be granted the same number of credit hours as would be granted to a person taking, and successfully completing such course, seminar or program, provided that such credit hours shall be credited only once per approved course during any, biennial licensing, period, (8) Every person

subject

to this section shall furnish, in a form satisfactory to the superintendent, written certification attesting to the course or program's of instruction taken and successfully completed by such person, and executed by the sponsoring organization its authorizing representative.

(h) (1) Any person failing to meet the requirements imposed by this section shall not be eligible to renew the license.

(2) Any person whose license was not renewed shall not be eligible to become relicensed during the next biennial licensing period until that person has demonstrated to the satisfaction of the superintendent that continuing education requirements for the last biennial licensing period were met.

(3) Any person whose license was not renewed pursuant to paragraph one of this subsection, who accumulates sufficient credit hours for the prior licensing period to qualify for relicensing in the biennial period following such non-renewal, may not apply those same credit hours toward the continuing education requirements for the current biennial licensing period.

(i) (1) Any entity eligible to provide courses, programs of instruction, or seminars in accordance with subsection (d) of this section, must file for approval by the superintendent on a biennial basis, to conform with it area of instruction, a provider organization application and course submission application for each course, program and seminar.

(2) The provider organization application shall include the names of all instructors to be used during the contract period, and instructors тау be added during the period by notifying the superintendent and paying, the appropriate filing fee.

(3) The completed applications shall be returned in a timely manner, as specified by the superintendent, with a non-refundable filing fee

of two hundred dollars per organization, fifty dollars per course, program and seminar, and fifty dollars per instructor.

(4) Approval of the application shall be at the discretion of the superintendent.

(j) Each licensee shall pay a liennial fee of ten dollars per license, for continuing education certificate filing and recording charges, to the superintendent or, at the discretion of the superintendent, directly

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to an organization under contract to provide continuing education administrative services.

§ 2. Paragraph 1 of subsection (b) of section 2107 of the insurance law is amended to read as follows:

(1) Before an insurance consultant's license shall be issued or renewed the prospective licensee shall properly file in the office of the superintendent a written application therefor in such form or forms and supplements that the superintendent prescribes, and pay a fee of (fifty] one hundred dollars and an additional fee of [fifty] one hundred dollars for each sub-licensee. Every consultant's license shall expire on the thirty-first day of March, with respect to (A) life insurance in the odd year and (B) general insurance in the even year, next following the date of issue.

§ 3. The sum of four hundred thousand dollars ($400,000), or so much thereof as may be necessary, is hereby appropriated to the state insurance department from any monies in the miscellaneous special revenue fund to the credit of the state insurance department account not otherwise appropriated, for the purpose of implementing the provisions of this act.

$ 4. This act shall take effect immediately, except that it shall become effective with respect to: (a) consultants, on April 1, 1994 for general consultants and April 1, 1995 for life consultants; (b) agents, on July 1, 1994 for agents licensed pursuant to subsection (b) of tion 2103' of the insurance law and July 1, 1995 for agents licensed pursuant to subsection (a) of section 2103 of the insurance law; and (c) brokers, on November 1, 1994 for brokers renewing, in even years and November 1, 1995 for brokers renewing, in odd years. All actions necessary to prepare for the implementation of this act, including adoption of rules and regulations, may be taken prior to the aforesaid effective dates,

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CHAPTER 657

AN ACT to amend the insurance law, in relation to requiring, the super

intendent of insurance to annually report an analysis of health in-
surers
Became a law July 31, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present.

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

Section 1. The insurance law is amended by adding a new section 210 to read as follows:

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§ 210. Annual rating of health insurers. The superintendent shall annually report on or before December fifteenth to the legislature and the public an analysis of insurers providing individual accident and health insurance or group

blanket accident and health insurance which provides, in detail, a ranking from best to worst and from worst to best based upon each insurer's claim processing record during the preceding calendar year using criteria available to the department, adjusted for volume of insurance provided. Such ranking shall also take into consideration the corresponding total of claims denied which were reversed or compromised after intervention by the department, consumer complaints and other pertinent data which would permit the department to objectively determine an insurer's performance.

§ 2. This act shall take effect immediately.
EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law

CHAPTER 658

(See FISCAL NOTES at end of Chapter.)

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AN ACT to amend the administrative code of the city of New York and the

education law, in relation to the availability of additional pension
benefits for other public employment to retirees from twenty and
twenty-five year plans and to amend section 3 of chapter 666 of the
laws of 1990, amending the administrative code of the city of New York
and the education law relating to the availability of additional pen-
sion benefits for extended second public employment to certain
retirees, relating thereto
Became a law July 31, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present.
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:

Section 1. Section 13-503 of the administrative code of the city of New York, as amended by chapter 666 of the laws of 1990, is amended to read as follows:

§ 13-503 Teachers' retirement association; membership. The teachers' retirement association is continued. Its membership shall consist of the following:

1. All teachers.
2. All transferred contributors.

3. Notwithstanding any inconsistent provision of sections 13-267 and 13-379 of this chapter, or any other provision of this chapter,, or the code,

any other law, [all teachers] a teacher, as defined in this chapter, who [file] files with the board a statement duly executed and acknowledged consenting for the period of [their] his or her active membership in this retirement association to the suspension of all present benefits provided wholly or partly by the city through any other retirement system or pension fund and consenting and agreeing to membership and to the deductions for annuity purposes prescribed in this chapter. Upon the subsequent retirement of such person from this retirement system [they] he or she shall receive benefits based on city service not included in the service upon which [their] his or her retirement allowance or pension from such other retirement system or pension fund is or would be based, and, upon such subsequent retirement,

payment of the benefits provided through such other retirement systém or' pension fund, which had been suspended, shall be resumed.

§ 2. Section 2575-e of the education law, as added by chapter 666 of the laws of 1990, is amended to read as follows:

§ 2575-e. Eligibility of retirees for membership in the board of education retirement system of the city of New York. Notwithstanding any inconsistent provision of sections 13-267 and 13-379 of the administrative code of the city of New York, or any other provision of this chapter, or the code, or any other law, (all persons] a person otherwise eligible for membership in the board of education retirement system of the city of New York, who [file] files with the board a statement duly executed and acknowledged consenting for the period of [their), his her active membership in the system to the suspension of all present benefits provided wholly or partly by the city through any other retirement system pension fund and consenting and agreeing to membership and to the deductions for annuity purposes prescribed in this chapter shall be member of the board of education retirement system of the city of New York. Upon the subsequent retirement of such person from [this] the board of education retirement system of the city of New York, (they, he or she shall receive benefits based on creditable service not included in the service upon which [their] his or her retirement allowance or pension from such other retirement system or pension fund is would be based, and, upon such subsequent retirement, payment of the benefits provided through such other retirement system or pension fund, which had been suspended, shall be resumed.

§ 3. Section 3 of chapter 666 of the laws of 1990, amending the administrative code of the city of New York and the education law relating to the availability of additional pension benefits for an extended second public employment to certain retirees, is amended to read as follows:

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§ 3. Notwithstanding any other provision of law to the contrary, any service retiree from a public retirement system who

(1) [had) retired under a plan which permitted (immediate) retirement ụpon completion of a specified period of service of twenty-five years or less without regard to age [who subsequent to his retirement);

(2) Chad returned to public service and has] was at the time of such retirement or thereafter [been continuously] employed in [a position or]

more other positions of public service and [is] has been so employed (as of the effective date of this act] continuously to and including July 22, 1990;

(3) has been so employed either (i) without suspension or diminution of his of her retirement allowance pursuant to section 211 or 212 of the retirement and social security law or (ii) with his or her pension having been, in fact, suspended pursuant to séction 150 of the civil vice law; and

(4) by reason of such position or positions would have otherwise been entitled to become (in the case of subparagraph (i) of paragraph [3] (3) of this subdivision), or has been (in the case of_subparagraph (ii) of paragraph [3] (3) of this subdivision) a member of [another one or more other public retirement [system] systems, shall be entitled to elect to be deemed retroactively to have transferred his or her membership in the system [maintaining such plan] from which he or she retired to such [second] other retirement system in which he or she would otherwise have been entitled to membership on July 22, 1990, pursuant to section 43 of the retirement and social security law as of the date immediately prior to the date of his or her retirement, provided he or she consents to the suspension of his or her retirement allowance, if not already suspended; and provided further that upon making such election, he or she shall be credited with public service continuously performed in the position positions described in paragraph (2) of this subdivision; retirement from such [second] system to which a retiree has transferred' his or her membership, his or her retirement allowance shall be reduced by. (i) the actuarial' equivalent of the retirement allowance received by such retiree while so employed in such other position or positions prior to his or her election pursuant to this section and (ii) the actuarial equivalent of any member contributions such retireé would have been required to pay, while so employed in such other position or positions, had he or she become a member of such other system as of the first date of his or her eligibility for membership but for the operation of

section 213 of the retirement and social security law unless such retiree shall pay in such contributions with regular interest pursuant to a schedule established by such [second] system to which such retiree has transferred his or her membership pursuant to regulation.

b. In order to effect such retroactive transfer pursuant to this section, the retiree must give notice to the administrative head of the retirement system from which he is a retiree (within 1 year of the effective date of this act] on or before July 22, 1993; upon receipt of such notice, the retirement allowance of the retiree shall be suspended and the reserve on such retiree's allowance shall thereafter be computed and transferred to such second retirement system; such second retirement system shall be entitled to recover from the employer employers

of such retiree any contributions with interest such employer or employers would have made had the retiree been a member of such second retirement system during such employment or employments but less such actuarial reduction, if any, as such other system may provide by regulation to be appropriate to reflect the actuarial reduction for payment of the retiree's allowance during such employment or employments.

c. Notwithstanding any other provision of law, in the event [an eligible] such person elects to exercise the rights granted pursuant to this section but dies prior to retirement from such second system, the death benefit to be paid shall be the greater in value of (i) the death benefit payable under the rules of such second system or (ii) a survivor benefit, if any, which would have been paid according to the option selection made by such person at the time of such person's prior retirement and in the amount which would have been paid if such

person had died immediately prior to the date on which he gave notice of his election under this section. Notwithstanding the foregoing, if such person designated a different beneficiary for death benefit (i) than for death EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law

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