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This entry was published on 2014-09-22
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Suspension of payments into fund; temporary surcharge authorized
Workers' Compensation (WKC) CHAPTER 67, ARTICLE 6-A
§ 109. Suspension of payments into fund; temporary surcharge
authorized. 1. When as of the end of any quarterly period the amount of
assets in the fund, as determined by the superintendent of financial
services, including any appropriation to such fund from the general fund
equals or exceeds seventy-four million dollars, no further contributions
to such fund shall be required to be made after that quarterly period,
provided, however, that whenever as of any subsequent quarterly period
the amount of such assets is less than seventy-four million dollars such
contributions shall be resumed at the beginning of the next quarter.
Thereafter the suspension or resumption of contributions shall be
governed by the foregoing provisions. During the period of time in which
any loans to the fund made pursuant to section seven thousand four
hundred thirty-three-a of the insurance law are outstanding, any assets
available after the payment of awards pursuant to section one hundred
nine-c of this article shall be used to repay such loans and not be
counted as assets for purposes of this section.

2. Notwithstanding the provisions of subdivision one of this section,
for each of the three month periods, commencing April first, nineteen
hundred ninety and ending March thirty-first, nineteen hundred
ninety-five, every mutual and every reciprocal carrier shall pay into
the fund a surcharge equal to one per centum of its net written
premiums, less the amount of dividends paid to policyholders, for the
period of such return. Such surcharge shall be in addition to any
payments which may be required pursuant to subdivision two of section
one hundred eight of this chapter.