§ 2117. Acting for or aiding unlicensed or unauthorized insurers or health maintenance organizations. (a) No person, firm, association or corporation shall in this state act as agent for any insurer or health maintenance organization which is not licensed or authorized to do an insurance or health maintenance organization business in this state, in the […]
§ 2118. Excess line brokers; duties. (a) (1) Every licensee licensed pursuant to section two thousand one hundred five of this article shall be required to use due care in selecting the unauthorized insurer from whom policies are procured under his license. (2) (A) No policy of insurance may be procured by a licensee from […]
§ 2119. Insurance agents, brokers, consultants, life settlement brokers, and title insurance agents; written contract for compensation; excess charges prohibited. (a) (1) No person licensed as an insurance agent, broker or consultant may receive any fee, commission or thing of value for examining, appraising, reviewing or evaluating any insurance policy, bond, annuity or pension or […]
§ 2120. Fiduciary capacity of insurance agents, title insurance agents, insurance brokers and reinsurance intermediaries. (a) Every insurance agent, title insurance agent, and insurance broker acting as such in this state shall be responsible in a fiduciary capacity for all funds received or collected as insurance agent or insurance broker, and shall not, without the […]
§ 2121. Broker authorized to receive premium, when. (a) Any insurer which delivers in this state to any insurance broker or any insured represented by such broker a contract of insurance pursuant to the application or request of such broker, acting for an insured other than himself, shall be deemed to have authorized such broker […]
§ 2122. Advertising by insurance producers. (a) (1) No insurance producer shall make or issue in this state any advertisement, sign, pamphlet, circular, card or other public announcement purporting to make known the financial condition of any insurer, unless the same shall conform to the requirements of section one thousand three hundred thirteen of this […]
§ 2123. Misrepresentations, misleading statements and incomplete comparisons. (a) (1) No agent or representative of any insurer or health maintenance organization authorized to transact life, accident or health insurance or health maintenance organization business in this state, insurance broker, person who has received a grant from and has been certified by the health benefit exchange […]
§ 2124. Stay or suspension of superintendent’s determination. The commencement of a proceeding under article seventy-eight of the civil practice law and rules, to review the action of the superintendent in suspending or revoking or refusing to renew any certificate under this article, shall stay such action of the superintendent for a period of thirty […]
§ 2125. Marine insurance; acting as agent, broker or insurer of persons without insurable interest. (a) No person, firm, association or corporation shall knowingly act as insurance agent or act as insurance broker in this state, or shall as insurer knowingly act in this state, in the sale, solicitation or negotiation, issuance or delivery of […]
§ 2126. Impersonation at examinations prohibited. No person shall impersonate any other person, or permit or aid in any manner any other person to impersonate him, in connection with any examination held in accordance with the provisions of this chapter.
§ 2127. Penalties for violations. (a) The superintendent, in lieu of revoking or suspending the license of a licensee in accordance with the provisions of this article, may in any one proceeding by order, require the licensee to pay to the people of this state a penalty in a sum not exceeding five hundred dollars […]
§ 2128. Commission and fee sharing prohibited. (a) Notwithstanding the provisions of sections two thousand three hundred twenty-four and four thousand two hundred twenty-four of this chapter, no licensee subject to this article shall receive any commissions or fees or shares thereof in connection with insurance coverages placed for or insurance services rendered to the […]
§ 2129. Duty to have an agent or broker at each place of business. (a) Each place of business established by the holder of an agent and/or broker license shall be under the supervision of one or more persons licensed to do the kinds of business transacted in that office. The headquarters location must be […]
* § 2130. Excess line association. (a) There is hereby created a non-profit association to be known as the excess line association of New York. All excess line licensees shall be deemed to be members of the association. The association must perform its functions under the plan of operation established and approved under subsection (c) […]
