§ 104. Continuation of existing offices, licenses, approvals and\nproceedings.\n (a) All persons who, at the effective date of this chapter, held any\noffice in the department shall continue to hold such office under and\nsubject to this chapter.\n (b) Every license of an insurer, insurance agent, insurance broker,\npublic adjuster, reinsurance intermediary, insurance consultant or other\nlicensee in force immediately prior to the effective date of this\nchapter shall continue in force until its date of expiration or until\nterminated pursuant to this chapter.\n (c) Every insurer doing business in this state as an authorized\ninsurer at the effective date of this chapter may continue to transact\nthe kind or kinds of insurance business it was licensed to transact on\nsuch date until the date of expiration of its license or until the\nlicense is terminated pursuant to this chapter.\n (d) Every form of policy, contract, certificate, application, rider or\nendorsement in use immediately prior to the effective date of this\nchapter which was approved by the superintendent pursuant to any law\nherein repealed may, unless he prescribes otherwise, continue to be\nissued in accordance with the approval:\n (1) following such effective date, if the form complies with this\nchapter and did comply with the repealed law, or\n (2) for six months following such effective date, if it does not\ncomply with this chapter but did comply with the repealed law.\n (e) No action or proceeding commenced before the effective date of\nthis chapter, and no violation of any provision of law hereby repealed,\nshall be affected by such repeal, but all procedure hereafter taken in\nreference thereto shall conform to the provisions of this chapter as far\nas practicable.\n
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.