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 Dec. 21, 2024).

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Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 3112’s source at nysenate​.gov

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