NY Ins L § 7907 (2021)
2021 New York Laws ISC - Insurance Article 79 - Service Contracts 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.