2006 New York Code - Creation Of Fund.

 
    §  490-a.  Creation of fund. Any fifty or more credit unions organized
  under the provisions of this chapter whose share  liabilities  aggregate
  not  less  than  fifty  per centum of the total share liabilities of all
  credit unions so organized may enter into an agreement, subject  to  the
  approval  of  the superintendent, to create a fund and from time to time
  make  contributions  thereto  in  accordance  with  the  terms  of  such
  agreement,  for the purpose of insuring the shares of such credit unions
  as shall become parties to such agreement; provided, however,  that  the
  shares  so  insured  of any one holder in any one credit union shall not
  exceed two thousand dollars. Such an agreement once entered into may  be
  continued,  notwithstanding the fact that any number of associations may
  cease to be parties thereto.