2010 New York Code
WKC - Workers' Compensation
Article 4 - (50 - 58) SECURITY FOR COMPENSATION
50-A - Group self-insurer default offset fund.

§  50-a.  Group  self-insurer  default offset fund. 1. The chair shall
  create a fund to be known as the group self-insurer default offset  fund
  and  such fund shall be held in the sole custody of the chair. The chair
  may transfer the money in such fund to  the  administrative  account  as
  necessary to effectuate the purpose of this section. The chair shall use
  the  money  in the fund to pay claims for defaulted group self-insurers,
  where sufficient moneys for such payment have not been collected or  are
  not  anticipated  to  be  collected  from  members  of a defaulted group
  self-insurer, or to offset such amount against any assessment  it  would
  otherwise  impose  against  private  individual  and group self-insurers
  under paragraph (g)  of  subdivision  five  of  section  fifty  of  this
  article.
    2.  At  any  time prior to April first, two thousand eleven, the chair
  may withdraw funds from the uninsured employers fund provided for  under
  section  twenty-six-a  of  this  chapter, up to such amount as the chair
  determines is sufficient to fund any anticipated additional expenses  of
  such fund, taking into account anticipated available revenues, but in no
  event  to  exceed  seventy-five  million  dollars in the aggregate. Such
  funds shall be deposited into the group self-insurer  offset  fund,  and
  used  in  accordance with subdivision one of this section. As consistent
  with this section, the chair may set the timing of such  withdrawals  in
  its discretion.
    3.  Beginning  on  January  first,  two thousand twelve, and each year
  thereafter, the chair shall add to the total of each  annual  assessment
  made  under  paragraph  g  of  subdivision five of section fifty of this
  article the sum of up to three  million  dollars,  to  be  allocated  to
  private  group  and  individual  self-insurers  in  accordance with such
  paragraph. The chair shall assess additional funds under this  paragraph
  as  necessary  to insure that there are sufficient funds in the fund for
  uninsured  employers  to  meet  its  liabilities,  or  if  necessary  in
  accordance  with  section  one  hundred  fifty-one of this chapter. Such
  funds as are collected pursuant to this subdivision shall  be  deposited
  into  the  uninsured  employer  fund until all funds withdrawn therefrom
  under subdivision  one  of  this  section  are  returned  with  interest
  calculated at an annual rate equal to the rate of return on funds in the
  fund for uninsured employers from the prior year.
    4.  At  such  time  as  the  board  is not obligated to pay any claims
  arising out of a defaulted self-insurer, the  fund  created  under  this
  section  shall  be  closed, and any money remaining in the fund shall be
  deposited into the uninsured employer fund.