2012 New York Consolidated Laws
ISC - Insurance
Article 55 - (5501 - 5517-A) MEDICAL MALPRACTICE INSURANCE ASSOCIATION
5503 - Plan of operation.

 
    §  5503.  Plan  of  operation.  (a)  The  association shall operate in
  accordance with a plan of operation approved by the superintendent which
  provides for economic, fair and  non-discriminatory  administration  and
  for the prompt and efficient provision of medical malpractice insurance.
    (b)  The plan shall contain other provisions including but not limited
  to preliminary assessment of all members for initial expenses  necessary
  to   commence   operations,   establishment   of  necessary  facilities,
  management of the association, assessment of members  to  defray  losses
  and  expenses,  service  charges, acceptance and cession of reinsurance,
  appointment of servicing carriers or other  servicing  arrangements  and
  procedures  for  determining  amounts of insurance to be provided by the
  association.
    (c) Amendments to the plan of operation may be made by  the  board  of
  directors   of   the   association,  subject  to  the  approval  of  the
  superintendent, or shall be made at the direction of the superintendent.
    (d) The association shall be subject to the provisions of this chapter
  applicable to property/casualty insurers in the conduct of its business,
  in order  to  provide  for  the  fair  treatment  of  policyholders  and
  claimants.
    (e)  The  association shall make the lump sum payments provided for in
  subdivision (b)  of  section  five  thousand  thirty-six  of  the  civil
  practice  law  and rules and receive the periodic payments due under the
  annuity contract provided for therein.