2017 New York Laws
GOB - General Obligations
Article 5 - Creation, Definition and Enforcement of Contractual Obligations
Title 17 - Structured Settlement Protection Act
5-1708-A - Waiver for Families of Victims of Terrorist Attacks.

  5-1708-a.  Waiver  for  families  of  victims of terrorist attacks.
  Notwithstanding the provisions of  section  four  thousand  two  hundred
  twenty-four of the insurance law:
(a)  An annuity issuer, or an employee or other representative of such
  issuer, shall be permitted to waive or offer to waive the commission  or
  other  compensation otherwise payable thereto as a result of the sale of
  a policy or contract subject to the provisions of section four  thousand
  two  hundred  twenty-four  of  the  insurance  law  to  a  member of the
  immediate family of a person who was a victim of the September eleventh,
  two thousand one terrorist attacks against  the  United  States  or  any
  terrorist attack as defined by subdivision (e) of this section; and
(b)  In connection with such waiver, the insurance company may, at the
  election of the policyowner or contract owner:
(i)  contribute  the  amount  of  such  waived  commission  or   other
  compensation to a charitable organization that meets the requirements of
  section  501(c)(3) of the Internal Revenue Code of 1986, as amended, and
  is organized for  the  benefit  of  families  of  victims  of  terrorist
  attacks; or
(ii) deduct from the premium an amount equal to such waived commission
  or other compensation otherwise payable thereto as a result of the sale.
(c)  For  purposes  of  this  section,  the term "victim" shall mean a
  decedent who died as a result of wounds or injury incurred as  a  result
  of   any  terrorist  attacks,  but  shall  not  include  any  individual
  identified by  the  United  States  attorney  general  to  have  been  a
  participant or conspirator in such attack or a representative of such an
  individual.
(d)  An  issuer  seeking  to  avail  itself  of the provisions of this
  section  shall  first  submit  its  plan  of   implementation   to   the
  superintendent  of financial services for prior approval. If the plan is
  approved,  such  issuer  shall  thereafter,   upon   request   of   such
  superintendent,  submit  a  report  to such superintendent regarding its
  experience in the implementation of such provisions.
(e) For purposes of this section, the term  "terrorist  attack"  shall
  mean  premeditated,  politically  motivated violence perpetrated against
  noncombatant targets by subnational groups or clandestine agents, listed
  on  the  U.S.  Department  of  State's   list   of   Foreign   Terrorist
  Organizations or listed at the time of such attack.