INS-32-07-00002-A Training Allowance Subsidy

10/17/07 N.Y. St. Reg. INS-32-07-00002-A

NEW YORK STATE REGISTER

VOLUME XXIX, ISSUE 42

October 17, 2007

RULE MAKING ACTIVITIES

INSURANCE DEPARTMENT

NOTICE OF ADOPTION

 

I.D No. INS-32-07-00002-A

Filing No. 1027

Filing Date. Oct. 01, 2007

Effective Date. Oct. 17, 2007

Training Allowance Subsidy

PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:

Action taken:

Addition of Part 12 (Regulation 50) to Title 11 NYCRR.

Statutory authority:

Insurance Law, sections 201, 301 and 4228

Subject:

Rules limiting the amount of training allowance subsidy an insurer can pay an agent.

Purpose:

To update the limits in Insurance Law, sections 4228(e)(3)(C) through (E) to reflect inflation from the Jan. 1, 1998 effective date of section 4228 to the present.

Text or summary was published

in the notice of proposed rule making, I.D. No. INS-32-07-00002-P, Issue of August 8, 2007.

Final rule as compared with last published rule:

No changes.

Text of rule and any required statements and analyses may be obtained from:

Andrew Mais, Insurance Department, 25 Beaver St., New York, NY 10004, [phone], e-mail: [e-mail]

Assessment of Public Comment

The agency received no public comment.