The legislation, Assembly Bill 5600-A, was sponsored by Assemblymembers Pamela Hunter, Steve Stern, Rebecca Seawright, William Magnarelli, Jo Simon, Khaleel Anderson, Christopher Burdick, Alfred Taylor, Chantel Jackson, David Weprin, and Sarah Clark. The law amends state insurance statutes to address how transfers and agreements between insurer-members and federal home loan banks are handled when an insurer faces receivership or financial distress.