N.Y. Insurance Law Section 3112
Automatic bank withdrawal agreements

notification required

Any insurer licensed to issue insurance in the state who has an automatic bank withdrawal agreement with an insured for the payment of insurance premiums for any type of insurance shall give the insured at least fifteen days advance written notice of any increase in policy premiums prior to any automatic bank withdrawal of an increased premium.

Source: Section 3112 — Automatic bank withdrawal agreements; notification required, https://www.nysenate.gov/legislation/laws/ISC/3112 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

3101
Simplified comprehensive policies of insurance 3102
Requirements for the use of readable and understandable insurance policies 3103
Non-conforming contracts 3104
Contract provisions required by laws of other jurisdictions 3105
Representations by the insured 3106
Warranty defined 3107
Sale of insurance policies by vending machine 3108
Reinsurance contracts excepted 3109
False statements in applications for membership in fraternal benefit societies 3110
Withdrawal of any policy form 3111
Special provisions relating to senior citizens 3112
Automatic bank withdrawal agreements 3113
Consent of and notification of an irrevocable beneficiary under a court order of divorce or separation

Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 3112’s source at nysenate.gov

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Location: https://newyork.public.law/laws/n.y._insurance_law_section_3112

Original Source: Section 3112 — Automatic bank withdrawal agreements; notification required, https://www.nysenate.gov/legislation/laws/ISC/3112 (last accessed Aug. 20, 2023).

N.Y. Insurance Law Section 3112 Automatic bank withdrawal agreements

N.Y. Insurance Law Section 3112
Automatic bank withdrawal agreements