N.Y. Insurance Law § 7907: Registration of providers

§ 7907. Registration of providers. (a) No person shall act as a

provider pursuant to this article without having first obtained an

approval of a registration to do so from the superintendent. The

application for approval of registration shall contain the following

information;

(1) the name and address of the principal office of the provider;

(2) the name and address of the providers' agent for service of

process in this state, if other than the provider;

(3) the identities of the provider's executive officer or officers

directly responsible for such provider's service contract business, and,

if more than fifty percent of the provider's revenue is derived from the

sale of service contracts, the identities of the provider's directors

and stockholders having beneficial ownership of five percent or more of

any class of securities registered under the federal securities law;

(4) the name, location and telephone number of any administrators

designated by the provider to be responsible for the administration of

service contracts in this state, together with an acknowledgment by each

such administrator (who is not employed by the provider) of such

administrator's obligations under this article;

(5) a statement indicating under subsection (c) of section seven

thousand nine hundred three of this article the provider qualifies to do

business as a service contract provider in this state.

(b) The registration application shall be accompanied by a fee of two

hundred fifty dollars for each year or fraction of a year in which the

registration shall be in effect.

(c) A provider shall keep current the information required to be

disclosed in its registration under this section by reporting all

material changes or additions within thirty days after the end of the

month in which the provider learns of such change or addition.

(d) The superintendent shall render a determination on the application

for registration within forty-five days of the date of filing. The

superintendent may not approve the application for registration if the

provider is not trustworthy or has otherwise given cause that the

superintendent determines that to approve such registration would not

promote the health, safety and welfare of the public. In the event the

registration application is disapproved, the superintendent shall state

the reason or reasons therefor. In the event the application was

incomplete, the applicant may file an amended registration application.

The superintendent shall render a decision on the amended application

within thirty days of receipt thereof.

(e) The registration shall continue in force until suspended or

revoked by the superintendent on the grounds that the provider is not

trustworthy or has violated any provision of this chapter or has given

cause for the revocation or suspension of such registration or the

provider has failed to comply with any prerequisite for the issuance of

such registration approved, or terminated at the request of the

provider, subject, however, to the biennial renewal of the registration,

by filing a renewal application and payment, prior to March first of

each odd numbered year following that in which its original registration

application is filed, of a fee of five hundred dollars.

(f) Except for the registration requirement in this section, providers

and administrators of service contracts are exempt from any licensing

requirements.

(g) The biennial renewal application shall contain such information as

required by the superintendent including, but not limited to information

to demonstrate that the applicant continues to satisfy all requirements

of section seven thousand nine hundred three of this article.