A 5600 New York Assembly · 2025 Regular Session

Relates to certain voidable transfers affecting a federal home loan bank

Summary

Relates to certain voidable transfers affecting a federal home loan bank including injunctions and the conduct of delinquency proceedings against insurers domiciled in this state.

Bill status signed all 5 stages cleared

Introduction

Feb 2025

Committee Review

Jun 2025

Assembly Passage

Jun 2025

Senate Passage

Jun 2025

Signed into Law

Sep 2025

Introduced Feb 18, 2025 Signed Sep 26, 2025

Maddy AI version diff · 1 comparison

What changed between versions

A5600 → A5600A · 4 edits

MODERATE

This bill was amended to expedite the federal home loan bank's response to insurance company receivership requests from ten days to five days, add language clarifying stock redemption rules, and insert new provisions requiring the federal home loan bank to actively support state insurance regulators during delinquency proceedings. The changes strengthen the state's ability to manage failing insurers by accelerating timelines and expanding cooperation requirements with the federal lender.

Scope change

The bill's scope expanded to include explicit requirements for federal home loan bank cooperation with state insurance departments during delinquency proceedings, including collateral substitutions and additional liquidity advances.

TIMELINE

Reduced the federal home loan bank's required response time from ten days to five days when a receiver requests collateral release or account information.

REQUIREMENT

Added new provisions requiring the federal home loan bank to actively support state insurance regulators during delinquency proceedings, including facilitating collateral substitutions, transfers to other members, and additional liquidity advances.

Added requirement for the federal home loan bank to provide confidential financial and credit information to state insurance departments upon request.

DEFINITION

Modified language regarding stock redemption to clarify it must be consistent with federal law, capital plans, and applicable capital stock practices.

Floor votes · Senate Jun 12, 2025 · Assembly Jun 10, 2025

How they voted

58–1

Passed · 4 other

Total votes 63

Jun 12, 2025

D Democratic41

37 Yea 1 Nay 3

90% Yea

R Republican22

21 Yea 1

95% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Sep 26, 2025

Signed into law

SIGNED CHAP.415

lower

Jun 12, 2025

Upper · Passed

PASSED SENATE

upper

Jun 10, 2025

Committee

REFERRED TO RULES

upper

Jun 10, 2025

Lower · Passed

PASSED ASSEMBLY

lower

May 30, 2025

Lower · Passed

AMEND AND RECOMMIT TO RULES 5600A

lower

May 28, 2025

Committee

REPORTED REFERRED TO RULES

lower

Feb 18, 2025

Committee

REFERRED TO INSURANCE

lower

1 primary · 10 co-sponsors