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In 1859, the New York State Legislature created the New York State Insurance Department, and assumed the functions of the Comptroller and Secretary of State relating to insurance. [1] The department began operations in 1860 and William F. Barnes was the first Superintendent of Insurance. [1]
At various times in the past, the New York state government has taken money from NYSIF's reserves to cover other budget shortfalls. Between 1982 and 1990, $1.3 billion was transferred to the state's general fund under Governor Mario Cuomo. In 1996 the practice was banned by state law.
The Scaffold Law was enacted by the New York State Legislature in 1885. [2] The law was enacted at a time in the nation's history when the federal government had not yet enacted widespread worker protection such as the Occupational Safety and Health Administration or workers compensation programs.
[3] [4] Unlike civil law codes, the Consolidated Laws are systematic but neither comprehensive nor preemptive, and reference to other laws and case law is often necessary. [1] The Consolidated Laws were printed by New York only once in 1909–1910, but there are 3 comprehensive and certified updated commercial private versions.
The New York State Legislature unanimously confirmed Benjamin M. Lawsky on May 24, 2011, as New York State's first Superintendent of Financial Services. [9] From May 24, 2011, until October 3, 2011, Lawsky also was appointed, and served as, Acting Superintendent of Banks for the former New York State Banking Department. [9]
Between 1903 and 1930, the company's insurance tripled, from $1.5 billion to nearly $4.5 billion and assets grew from $401 million to $1.05 billion. [ 3 ] During the Great Depression , however, the Company terminated a number of employees, service contractors, and experienced a series of policy lapses which caused a dip in assets and a decline ...
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State agency rules and regulations are promulgated in the New York State Register and codified in the New York Codes, Rules and Regulations. Because New York is a common law state, every opinion, memorandum, and motion sent by the New York Court of Appeals (New York's highest court) and the Appellate Division of the New York Supreme Court (an ...