This article will provide guidance on How to Serve Papers on NY Department of Financial Services. The New York Department of Financial Services (DFS) regulates the state’s financial services and products, including insurance and banking laws. With five main divisions—Insurance, Banking, Financial Fraud, Real Estate, and Capital Markets—the DFS ensures the financial sector’s integrity and consumer protection. Here’s a concise guide on how to serve legal papers to the DFS, a key step for legal professionals and businesses dealing with New York’s financial services sector. Click here to watch our introduction video.
Understanding DFS’s Structure
Insurance Division
This division oversees all insurance-related activities, ensuring compliance with state laws. Click Here for Frequently Asked Questions About Process Servers!
Banking Division
Focuses on regulating state-chartered banks, maintaining the stability of New York’s banking system. Click here for information on How CPLR 308 Enhances Service of Process in New York.
Financial Fraud Division
Protects consumers from financial fraud and enforces financial laws to prevent fraud. Click here for New York Rules of Civil Procedure.
Real Estate Division
Regulates the real estate industry, promoting fairness and transparency in transactions. Click here for How To Serve Legal Papers In New York State.
Capital Markets Division
Ensures the securities industry operates smoothly, protecting investors from risks.
The DFS also includes the Office of General Counsel, which offers legal advice and develops regulations.
Serving Papers to the Superintendent
To serve legal papers:
- Deliver two copies of the documents in person to the Superintendent’s office.
- Include a check for USD 2 payable to the ‘Superintendent of Financial Services of New York.’
This process ensures the DFS receives formal notification and can respond to legal actions.
Serving Foreign Banks and Corporations
Foreign banks and out-of-state trust corporations must appoint the Superintendent as their agent for process service. This requirement ensures legal actions can be efficiently addressed.
Proof of Service
After serving the DFS, file proof of service with the court, including an affidavit of compliance and, if necessary, the return receipt or other official proof of delivery.
Serving Under Insurance Law
Serve legal papers related to insurance matters directly to the Superintendent. This ensures insurers are properly notified of legal proceedings.
Service Fees
The service fee varies depending on the entity:
- Licensed insurers and fraternal benefit societies: USD 40.
- Unlicensed insurance companies: USD 40.
- Risk retention groups or purchasing groups: USD 20.
These fees must be paid to the ‘Superintendent of Financial Services.’
Conclusion
To Serve Papers on NY Department of Financial Services is vital for regulatory compliance and consumer protection. Legal professionals and businesses must understand the procedural requirements to navigate New York’s financial regulatory landscape effectively.
OFFICE LOCATIONS
New York: (212) 203-8001 – 590 Madison Avenue, 21st Floor, New York, New York 10022
Brooklyn: (347) 983-5436 – 300 Cadman Plaza West, 12th Floor, Brooklyn, New York 11201
Queens: (646) 357-3005 – 118-35 Queens Blvd, Suite 400, Forest Hills, New York 11375
Long Island: (516) 208-4577 – 626 RXR Plaza, 6th Floor, Uniondale, New York 11556
Westchester: (914) 414-0877 – 50 Main Street, 10th Floor, White Plains, New York 10606
Connecticut: (203) 489-2940 – 500 West Putnam Avenue, Suite 400, Greenwich, Connecticut 06830
New Jersey: (201) 630-0114 – 101 Hudson Street, 21 Floor, Jersey City, New Jersey 07302
Washington DC: (202) 655-4450 – 1101 Pennsylvania Avenue, N.W. Suite 300, Washington DC 20004
FOR ASSISTANCE SERVING LEGAL PAPERS
Pick up the phone and call Toll-Free (800) 774-6922 or click the service you want to purchase. Our dedicated team of professionals is ready to help you out. We can handle all your process service needs; every job is just a little small!
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