New York: Senior Designations: Legislation (A. 1787/S.7254) enacted in New York requires a person or business using a senior specific designation in advertising to disclose the basis or source for the designation. Policymakers passed the new law to give consumers additional information about the legitimacy of senior designations. If in writing, the disclosure regarding the designation must be in a size sufficient to be noticeable for an ordinary consumer to read and understand. If provided orally, the message regarding the senior designation must be communicated in such a way that the consumer can hear and comprehend the notice. The new law amends the general business section of the New York statutes and is applicable to all businesses. The law is not insurance specific and does not follow the NAIC Model Regulation on the Use of Senior Specific Certifications and Professional Designations in the Sale of Life Insurance and Annuities. The law became effective November 21, 2014.
