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This entry was published on 2014-09-22
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SECTION 214
Special fund for disability benefits
Workers' Compensation (WKC) CHAPTER 67, ARTICLE 9
§ 214. Special fund for disability benefits. There is hereby created a
fund which shall be known as the special fund for disability benefits to
provide for the payment of disability benefits under sections two
hundred seven, two hundred thirteen and attendance fees under section
two hundred thirty-two of this article.

1. As promptly as practicable after April first, in each year, the
chairman shall ascertain the condition of the fund, and if as of any
such date the net assets of the fund shall be one million dollars or
more below the sum of twelve million dollars, the chairman shall assess
and collect an amount sufficient to restore the fund to an amount equal
to twelve million dollars.. Such assessment shall be included in the
assessment rate established pursuant to subdivision two of section one
hundred fifty-one of this chapter. Such assessments shall be deposited
with the commissioner of taxation and finance and transferred to the
benefit of such fund upon payment of debt service, if any, pursuant to
section one hundred fifty-one of this chapter.

2. Whenever the net assets of the fund shall be less than three
million dollars and the disability claims currently being paid shall
indicate the necessity of supplementing the assets of the fund the
chairman may transfer from monies collected pursuant to subdivision two
of section one hundred fifty-one of this chapter an amount sufficient in
the discretion of the chairman for the needs of the fund, but not in
excess of an amount sufficient to restore the fund to twelve million
dollars.

3. All contributions and assessments received by the chairman under
the provisions of this section shall be credited to the fund herein
established and deposited by the chairman to the credit of the
commissioner of taxation and finance for the benefit of the fund. The
superintendent of financial services may examine into the condition of
the fund at any time on his own initiative or upon the request of the
chairman.