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New York · Through 2026-09-11

N.Y. Insurance Law § 2121: Broker authorized to receive premium, when

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Where this section sits in the code
  1. Insurance Law
  2. Article 21. Agents, Brokers, Adjusters, Consultants and Intermediaries

§ 2121. Broker authorized to receive premium, when. (a) Any insurer

which delivers in this state to any insurance broker or any insured

represented by such broker a contract of insurance pursuant to the

application or request of such broker, acting for an insured other than

himself, shall be deemed to have authorized such broker to receive on

its behalf payment of any premium which is due on such contract at the

time of its issuance or delivery or payment of any installment of such

premium or any additional premium which becomes due or payable

thereafter on such contract, provided such payment is received by such

broker within ninety days after the due date of such premium or

installment thereof or after the date of delivery of a statement by the

insurer of such additional premium.

(b) An agent who represents an insured for the purpose of obtaining

insurance pursuant to any plan authorized by articles fifty-three,

fifty-four and fifty-five of this chapter shall be deemed to be a broker

for the purposes of this section.

Collected 2026-09-14T19:32:45Z. Source file · JSON

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