DFS-08-13-00001-P Multiple Parts of Titles 3 and 11 of NYCRR

2/20/13 N.Y. St. Reg. DFS-08-13-00001-P

NEW YORK STATE REGISTER

VOLUME XXXV, ISSUE 8

February 20, 2013

RULE MAKING ACTIVITIES

DEPARTMENT OF FINANCIAL SERVICES

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. DFS-08-13-00001-P

Multiple Parts of Titles 3 and 11 of NYCRR

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

Proposed Action:

This is a consensus rule making to amend multiple Parts of Title 3 NYCRR and multiple Parts of Title 11 NYCRR; repeal of Appendices 10A, 10B, 10C, 11, 13-A, 15, 16 and 22, Forms NF 1A, NF 1B, NF 4 and NF 5 of Appendix 13; addition of new Appendices 10A, 10B, 10C, 11, 16 and 22, Forms NF 1A, NF 1B, NF 4 and NF 5 of Appendix 13 to Title 11 NYCRR.

Statutory authority:

Financial Services Law, sections 202 and 302; Banking Law, section 14(1); Insurance Law, section 301

Subject:

Multiple Parts of Titles 3 and 11 of NYCRR.

Purpose:

To revise references, now outdated, as a result the consolidation of the New York State Insurance and Banking Departments.

Substance of proposed rule:

Consolidated Summary of the Amendment of Multiple Parts of 3 NYCRR and 11 NYCR; Repeal of Forms NF 1A, NF 1B, NF 4 and NF 5 of Appendix 13; Repeal of Appendices 10A, 10B, 10C, 11, 13-A, 15, 16 and 22; Addition of New Forms NF 1A, NF 1B, NF 4 and NF 5 of Appendix 13; and Addition of New Appendices 10A, 10B, 10C, 11, 16 and 22

This rulemaking revises references that are now outdated as a result of the consolidation of the New York State Insurance and Banking Departments into a new Department of Financial Services, and makes certain other technical changes (e.g., grammatical corrections and repeal of obsolete forms).

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

Sally Geisel, New York State Department of Financial Services, 25 Beaver Street, New York, NY 10004, [phone], email: [e-mail]

Data, views or arguments may be submitted to:

Same as above.

Public comment will be received until:

45 days after publication of this notice.

Consensus Rule Making Determination

Statement that the Consolidated Action Amending Multiple Parts of 3 NYCRR and 11 NYCRR; Repealing Forms NF 1A, NF 1B, NF 4 and NF 5 of Appendix 13; Repealing Appendices 10A, 10B, 10C, 11, 13-A, 15, 16 and 22; Adding New Forms NF 1A, NF 1B, NF 4 and NF 5 of Appendix 13; and Adding New Appendices 10A, 10B, 10C, 11, 16 and 22 Is a Consensus Rulemaking and That No Person Is Likely to Object to Its Adoption

This rulemaking revises references that are now outdated as a result of the consolidation of the New York State Insurance and Banking Departments into a new Department of Financial Services, and makes certain other technical changes (e.g., grammatical corrections and repeal of obsolete forms).

This rulemaking is determined by the agency to be a consensus rulemaking, as defined in State Administrative Procedure Act § 102(11) (“SAPA”), and is proposed pursuant to subparagraph (i) of paragraph (b) of subdivision one of section two hundred two of SAPA. Accordingly, it is exempt from the requirement to file a Regulatory Impact Statement, Regulatory Flexibility Analysis for Small Businesses and Local Governments or a Rural Area Flexibility Analysis.

Job Impact Statement

Consolidated Job Impact Statement for the Amendment of Multiple Parts of 3 NYCRR and 11 NYCRR; Repeal of Forms NF 1A, NF 1B, NF 4 and NF 5 of Appendix 13; Repeal of Appendices 10A, 10B, 10C, 11, 13-A, 15, 16 and 22; Addition of New Forms NF 1A, NF 1B, NF 4 and NF 5 of Appendix 13; and Addition of New Appendices 10A, 10B, 10C, 11, 16 and 22

This amendment should not adversely impact job or employment opportunities in New York. This rulemaking merely revises references that are now outdated as a result of the consolidation of the New York State Insurance and Banking Departments into a new Department of Financial Services, and makes certain other technical changes (e.g., grammatical corrections and repeal of obsolete forms).

There is no evidence that these rules would have any adverse impact on self-employment opportunities.

The Department of Financial Services has no reason to believe that the rules will result in any adverse impacts.