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New York Senate seeks to clarify new regs with anti-inducement bill
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Legislative Developments
Wednesday, January 17, 2018
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The New York State Senate has passed a bill that would amend subdivision 2 of section 6409(d) of the insurance law, clarifying that “a marketing activity or conveyed benefit or considered an illegal inducement under this section if it is given with the intention to directly or indirectly compensate a present or perspective client for any past or present placement of title insurance business.” This topic has been the subject of much discussion in recent months, including at a hearing in the New York Assembly Standing Committee on Insurance on Jan. 12. Read on for more details.
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