N.Y. Financial Services Law § 101-a: Legislative findings and determinations

§ 101-a. Legislative findings and determinations. The legislature

finds and determines that the banking, insurance and financial services

industries constitute a critical sector of New York state's economy.

The legislature also finds and determines that responsive, effective,

innovative, state banking and insurance regulation is necessary to

operate in a global, evolving and competitive market place.

The legislature additionally finds and determines that this

legislation is necessary to modernize and transform the present state

banking department and state insurance department into a new integrated

department of financial services.