NEW YORK STATE
SECOND AMENDMENT TO REGULATION NO. 105
(11 NYCRR 166)
TREATMENT OF EXCESS PROFITS IN MOTOR VEHICLE INSURANCE
(Matter in brackets is deleted; new matter is underlined)
Section 166-1.0(a) of Subpart 166-1 of Part 166 is amended to read as follows:
(a) Section 2329 of the New York State Insurance Law, as amended [by part I of chapter 105 of the Laws of 2002], requires insurers to return to consumers any "excess profits" on automobile insurance written in New York State for the period [from January 1, 1974 through August 2, 2002] specified in section 2329.
I, Gregory V. Serio, Superintendent of Insurance of the State of New York, do hereby certify that the foregoing is the Second Amendment to 166 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Regulation 105), entitled " Treatment Of Excess Profits In Motor Vehicle Insurance", promulgated by me on October 28, 2003, pursuant to the authority granted by Sections 201, 301, 2323 and 2329 of the Insurance Law, and Chapter 85 of the Laws of 2003, to take effect upon publication in the State Register.
Pursuant to the provisions of the State Administrative Procedure Act, prior notice of the proposed regulation was published in the State Register on August 27, 2003. No other publication or prior notice is required by statute.
October 28, 2003