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Finally! Gov. David A. Paterson on Aug. 13 signed into law significant new legislation to reform New York State's outdated divorce laws.
New York will finally join the other 49 states in allowing no- fault divorce, meaning couples can end a marriage without having to affix blame, an often costly and lengthy process.
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Claw-Backs under SOX 304
In 2002, Congress passed the Sarbanes-Oxley Act (SOX) in an effort to increase the accuracy of financial reporting and to ...
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So, in 1978 the Michigan Supreme Court struck down no fault as unconstitutional, ruling that the state cannot require people to have insurance without some guarantee that rates will be affordable. The Supreme Court ordered the Legislature to come up with a definition for affordability which ensures "fair and equitable" rates for the consumer. But in a twist, the Legislature turned the Supreme Court's ruling on its head by defining affordability from the insurance industry's perspective, not the consumer's.
Since 1989, Michigan's rates have skyrocketed 69 percent, the fastest rate in the nation. Our $1,000 average premium is closing in on New Jersey's $1,100, the country's highest. And Michigan's $436 collision premium is the most expensive in the U.S.
Ironically, Michigan drivers were j...
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Since she finished her book, it's come to look like the BernankeGeithner-Paulson policies have, in fact, stabilized the financial system and set the conditions for a return to economic growth. A Ph.D. in social anthropology who became a Financial Times reporter, she benefited, as the promotional material for her book explains, from "exclusive access to J.P. Morgan Chase CEO Jamie Dimon and a tightly bonded team of bankers known on Wall Street as the 'Morgan Mafia.'" Both strengths and weaknesses result from this reportorial method.
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In a report issued earlier this month, the New York State Insurance Department indicated there were 12,807 cases of suspected fraud involving no-fault auto insurance in 2010. The figure represents 88 percent of the total number of suspected health care fraud cases received in 2010 and is down slightly from 13,433 cases in 2009.
Only a small portion of the suspected fraud cases lead to arrests.
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The investigation - dubbed Operation Direct Hit - began in March 2007 when the NYPD uncovered evidence of a specific accident pattern occurring within the confines of the 109th Precinct in Queens County that dated back to 2005. Typically, the "victim" vehicle - often driven by an Asian individual *- was intentionally struck while backing out of a driveway or pulling out of a parking lot. The investigation later revealed that Tomas Aquiles, who allegedly coordinated these accidents, specifically targeted Asian American drivers due to his belief that they were bad drivers and mat they would be blamed by the police and insurers for the accidents instead of the actual culprits. Some of the Asian American drivers were injured as a result of these accidents and many suffered significant damag...
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New York would join the other 49 states permitting no-fault divorce, making it faster and less expensive for uncontested breakups, under legislation given final approval Thursday night.
Perhaps more significant, the deal updates and makes more uniform the way in which maintenance -- or alimony -- is awarded, ending a current system that some lawmakers say forces some people to stay in abusive or empty relationships because of economic conditions.
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Details still need to be understood, but new legislation would eliminate the need for couples in New York to blame one another should their marriage fail.
Comprehensive divorce reform, a three-bill package, has passed both houses of the state Legislature and is expected to be sent to Gov. David A. Paterson by the Aug. 15 deadline, making New York the final state to offer what is commonly referred to as "no-fault divorce.