State Codes and Statutes

Statutes > New-york > Wkc > Article-6-a > 106

§  106. Consolidation of funds; definitions. On and after March first,  nineteen hundred ninety, the stock workers' compensation  security  fund  and  the  mutual  workers' compensation security fund heretofore created  are hereby consolidated into a single fund to be known as the  "workers'  compensation   security  fund".  All  assets,  liabilities,  rights  and  obligations of the stock workers' compensation  security  fund  and  the  mutual  workers'  compensation  security fund are hereby transferred and  assigned to and assumed by and devolved upon the  workers'  compensation  security  fund  and shall continue to be assets, liabilities, rights and  obligations of such fund without diminution or impairment.  As  used  in  this article, unless the context or subject matter otherwise require;    "Fund" means the workers' compensation security fund.    "Fund year" means the calendar year.    "Stock  carrier"  means  any stock corporation other than an insolvent  carrier, authorized to transact the business of  workmen's  compensation  insurance in this state.    "Mutual  carrier"  means any mutual corporation or reciprocal insurer,  other than an insolvent carrier, authorized to transact the business  of  workmen's compensation insurance in this state.    "Nonprofit  property/casualty  insurance  company"  means  a nonprofit  property/casualty insurance company as defined in paragraph  fifty-three  of subsection (a) of section one hundred seven of the insurance law.    "Reciprocal  insurer"  means  any  reciprocal  insurer  authorized  to  transact the business of workmen's compensation insurance in this  state  and  such  reciprocal  insurer  shall  be  deemed to be a mutual carrier  within the intent of the several provisions of this article.    "Carrier" means a stock or mutual corporation or a reciprocal  insurer  or  a nonprofit property/casualty insurance company, if such corporation  or  insurer  is  authorized  to  transact  the  business   of   workers'  compensation  insurance  in this state, including but not limited to the  issuance of an assumption of workers' compensation  liability  insurance  policy,  but  not  including  any  such  corporation or insurer which is  insolvent.    "Insolvent  carrier"  means  a  carrier  as  to  which  an  order   of  rehabilitation  or  of  liquidation,  or,  if  such carrier be a foreign  insurer, as to which an order for conservation of its assets within  the  state,  shall  have  been  made after the effective date of this article  pursuant to article seventy-four of the  insurance  law,  or  a  foreign  carrier which withdraws from or discontinues operation in this state and  fails  to meet payments due on awards made, but not including a carrier,  whether  a  domestic  or  foreign  insurer,  which  shall  have   become  rehabilitated   and   allowed   to   resume   business  after  any  such  rehabilitation or conservation of assets and meets  its  obligations  as  they mature.    "Employer"  includes  any  political  subdivision  liable for benefits  pursuant to the volunteer firefighters' benefit law.    "Employment" includes the service of a volunteer firefighter for which  a political subdivision is liable for benefits pursuant to the volunteer  firefighters' benefit law.    "Workers' compensation" and "compensation"  include  the  benefits  in  relation  to  volunteer  firefighters  and  volunteer  ambulance workers  pursuant to the volunteer firefighters' benefit law  and  the  volunteer  ambulance workers' benefit law and benefits in relation to longshore and  harbor   workers   pursuant   to   the  longshore  and  harbor  workers'  compensation act, United States Code, Title  33,  Sections  901  through  950.    "This  chapter"  includes  the volunteer firefighters' benefit law and  the volunteer ambulance workers' benefit  law;  and  the  longshore  andharbor workers' compensation act, United States Code, Title 33, Sections  901  through  950;  except when such a meaning is inconsistent with this  article.

State Codes and Statutes

Statutes > New-york > Wkc > Article-6-a > 106

§  106. Consolidation of funds; definitions. On and after March first,  nineteen hundred ninety, the stock workers' compensation  security  fund  and  the  mutual  workers' compensation security fund heretofore created  are hereby consolidated into a single fund to be known as the  "workers'  compensation   security  fund".  All  assets,  liabilities,  rights  and  obligations of the stock workers' compensation  security  fund  and  the  mutual  workers'  compensation  security fund are hereby transferred and  assigned to and assumed by and devolved upon the  workers'  compensation  security  fund  and shall continue to be assets, liabilities, rights and  obligations of such fund without diminution or impairment.  As  used  in  this article, unless the context or subject matter otherwise require;    "Fund" means the workers' compensation security fund.    "Fund year" means the calendar year.    "Stock  carrier"  means  any stock corporation other than an insolvent  carrier, authorized to transact the business of  workmen's  compensation  insurance in this state.    "Mutual  carrier"  means any mutual corporation or reciprocal insurer,  other than an insolvent carrier, authorized to transact the business  of  workmen's compensation insurance in this state.    "Nonprofit  property/casualty  insurance  company"  means  a nonprofit  property/casualty insurance company as defined in paragraph  fifty-three  of subsection (a) of section one hundred seven of the insurance law.    "Reciprocal  insurer"  means  any  reciprocal  insurer  authorized  to  transact the business of workmen's compensation insurance in this  state  and  such  reciprocal  insurer  shall  be  deemed to be a mutual carrier  within the intent of the several provisions of this article.    "Carrier" means a stock or mutual corporation or a reciprocal  insurer  or  a nonprofit property/casualty insurance company, if such corporation  or  insurer  is  authorized  to  transact  the  business   of   workers'  compensation  insurance  in this state, including but not limited to the  issuance of an assumption of workers' compensation  liability  insurance  policy,  but  not  including  any  such  corporation or insurer which is  insolvent.    "Insolvent  carrier"  means  a  carrier  as  to  which  an  order   of  rehabilitation  or  of  liquidation,  or,  if  such carrier be a foreign  insurer, as to which an order for conservation of its assets within  the  state,  shall  have  been  made after the effective date of this article  pursuant to article seventy-four of the  insurance  law,  or  a  foreign  carrier which withdraws from or discontinues operation in this state and  fails  to meet payments due on awards made, but not including a carrier,  whether  a  domestic  or  foreign  insurer,  which  shall  have   become  rehabilitated   and   allowed   to   resume   business  after  any  such  rehabilitation or conservation of assets and meets  its  obligations  as  they mature.    "Employer"  includes  any  political  subdivision  liable for benefits  pursuant to the volunteer firefighters' benefit law.    "Employment" includes the service of a volunteer firefighter for which  a political subdivision is liable for benefits pursuant to the volunteer  firefighters' benefit law.    "Workers' compensation" and "compensation"  include  the  benefits  in  relation  to  volunteer  firefighters  and  volunteer  ambulance workers  pursuant to the volunteer firefighters' benefit law  and  the  volunteer  ambulance workers' benefit law and benefits in relation to longshore and  harbor   workers   pursuant   to   the  longshore  and  harbor  workers'  compensation act, United States Code, Title  33,  Sections  901  through  950.    "This  chapter"  includes  the volunteer firefighters' benefit law and  the volunteer ambulance workers' benefit  law;  and  the  longshore  andharbor workers' compensation act, United States Code, Title 33, Sections  901  through  950;  except when such a meaning is inconsistent with this  article.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Wkc > Article-6-a > 106

§  106. Consolidation of funds; definitions. On and after March first,  nineteen hundred ninety, the stock workers' compensation  security  fund  and  the  mutual  workers' compensation security fund heretofore created  are hereby consolidated into a single fund to be known as the  "workers'  compensation   security  fund".  All  assets,  liabilities,  rights  and  obligations of the stock workers' compensation  security  fund  and  the  mutual  workers'  compensation  security fund are hereby transferred and  assigned to and assumed by and devolved upon the  workers'  compensation  security  fund  and shall continue to be assets, liabilities, rights and  obligations of such fund without diminution or impairment.  As  used  in  this article, unless the context or subject matter otherwise require;    "Fund" means the workers' compensation security fund.    "Fund year" means the calendar year.    "Stock  carrier"  means  any stock corporation other than an insolvent  carrier, authorized to transact the business of  workmen's  compensation  insurance in this state.    "Mutual  carrier"  means any mutual corporation or reciprocal insurer,  other than an insolvent carrier, authorized to transact the business  of  workmen's compensation insurance in this state.    "Nonprofit  property/casualty  insurance  company"  means  a nonprofit  property/casualty insurance company as defined in paragraph  fifty-three  of subsection (a) of section one hundred seven of the insurance law.    "Reciprocal  insurer"  means  any  reciprocal  insurer  authorized  to  transact the business of workmen's compensation insurance in this  state  and  such  reciprocal  insurer  shall  be  deemed to be a mutual carrier  within the intent of the several provisions of this article.    "Carrier" means a stock or mutual corporation or a reciprocal  insurer  or  a nonprofit property/casualty insurance company, if such corporation  or  insurer  is  authorized  to  transact  the  business   of   workers'  compensation  insurance  in this state, including but not limited to the  issuance of an assumption of workers' compensation  liability  insurance  policy,  but  not  including  any  such  corporation or insurer which is  insolvent.    "Insolvent  carrier"  means  a  carrier  as  to  which  an  order   of  rehabilitation  or  of  liquidation,  or,  if  such carrier be a foreign  insurer, as to which an order for conservation of its assets within  the  state,  shall  have  been  made after the effective date of this article  pursuant to article seventy-four of the  insurance  law,  or  a  foreign  carrier which withdraws from or discontinues operation in this state and  fails  to meet payments due on awards made, but not including a carrier,  whether  a  domestic  or  foreign  insurer,  which  shall  have   become  rehabilitated   and   allowed   to   resume   business  after  any  such  rehabilitation or conservation of assets and meets  its  obligations  as  they mature.    "Employer"  includes  any  political  subdivision  liable for benefits  pursuant to the volunteer firefighters' benefit law.    "Employment" includes the service of a volunteer firefighter for which  a political subdivision is liable for benefits pursuant to the volunteer  firefighters' benefit law.    "Workers' compensation" and "compensation"  include  the  benefits  in  relation  to  volunteer  firefighters  and  volunteer  ambulance workers  pursuant to the volunteer firefighters' benefit law  and  the  volunteer  ambulance workers' benefit law and benefits in relation to longshore and  harbor   workers   pursuant   to   the  longshore  and  harbor  workers'  compensation act, United States Code, Title  33,  Sections  901  through  950.    "This  chapter"  includes  the volunteer firefighters' benefit law and  the volunteer ambulance workers' benefit  law;  and  the  longshore  andharbor workers' compensation act, United States Code, Title 33, Sections  901  through  950;  except when such a meaning is inconsistent with this  article.