Bill
Bill > A07376
NY A07376
NY A07376Allows the use of electronic notices and documents in premium finance transactions; sets guidelines for consent to the use of electronic notices and documents.
summary
Introduced
05/18/2023
05/18/2023
In Committee
06/01/2023
06/01/2023
Crossed Over
06/07/2023
06/07/2023
Passed
10/13/2023
10/13/2023
Dead
Signed/Enacted/Adopted
10/25/2023
10/25/2023
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the banking law, in relation to electronic notices or documents in premium finance transactions
AI Summary
This bill allows the use of electronic notices and documents in premium finance transactions and sets guidelines for obtaining consent from parties to use electronic delivery. It defines key terms like "delivered by electronic means" and "party," and outlines requirements for obtaining consent, including providing clear information about the right to withdraw consent and the ability to receive documents in paper form. The bill also addresses the legal effectiveness of electronic documents and the process for withdrawing consent. It does not affect the content or timing requirements for notices and documents, and it does not apply retroactively to existing electronic consent arrangements.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
signed chap.581 (on 10/25/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/A7376 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A07376&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A07376 |
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