State Codes and Statutes

Statutes > New-york > Wkc > Article-9 > 211

§  211.  Provision  for payment of benefits. A covered employer shall,  with his own contributions  and  the  contributions  of  his  employees,  provide  disability  benefits  to  his  employees  in one or more of the  following ways:    1. by insuring and keeping insured the payment of such benefits in the  state fund, or    2. by insuring and keeping insured the payment of such  benefits  with  any  stock  or  mutual  corporation  or reciprocal insurer authorized to  transact the business of accident and health insurance in this state, or    3. by furnishing satisfactory proof to  the  chair  of  the  employers  financial  ability  to  pay such benefits, in which case the chair shall  require the deposit of such securities as the chair may  deem  necessary  of  the  kind  prescribed in subdivisions one, two, three, four and five  and paragraph a of subdivision seven of section two hundred  thirty-five  of  the  banking law or the deposit of cash or the filing of irrevocable  letters of credit issued by a qualified banking institution  as  defined  by  rules promulgated by the chair or the filing of the bond of a surety  company authorized to do business in  this  state,  conditioned  on  the  payment  by  the  employer  of its obligations under this article and in  form approved by the chair, or the posting and filing of  a  combination  of such securities, cash, irrevocable letters of credit and surety bonds  in  an  amount  to  be  determined  by  the  chair, to secure his or her  liability to pay the compensation provided in this chapter.  The  amount  of  deposit  or  of the penal sum of the bond shall be determined by the  chair and shall not be less than one-half the estimated contributions of  the employees of the employer for the ensuing year or  one-half  of  the  contributions  of  the  employees  which  would  have  been  paid by the  employees during the preceding year, whichever is  the  greater,  or  if  such  amount is more than fifty thousand dollars an amount not less than  fifty thousand dollars.   The chair shall  have  authority  to  deny  an  application  to  provide  benefits  pursuant  to  this subdivision or to  revoke approval at any time for good cause shown.  In  the  case  of  an  employer  who  maintains a deposit of securities, irrevocable letters of  credit or cash in accordance with subdivision three of section fifty  of  this  chapter,  the chair may reduce the amount of the deposit or of the  penal sum of the bond, provided the securities, irrevocable  letters  of  credit or cash deposited by or for such employer under subdivision three  of  section  fifty of this chapter are, by agreement satisfactory to the  chair, made available for the payment  of  unpaid  benefits  under  this  article with respect to obligations incurred for disabilities commencing  prior  to  the  effective  date  of  such  revocation. An association of  employers or employees authorized to pay benefits under this article  or  the  trustee  or  trustees  paying  benefits  under  a plan or agreement  authorized under subdivisions four and five of this  section,  may  with  the  approval  of the chair furnish such proof and otherwise comply with  the provisions  of  this  section  to  provide  disability  benefits  to  employees under such plan or agreement.    4.  by  a plan in existence on the effective date of this article.  If  on the effective date  of  this  article  the  employees  of  a  covered  employer  or  any  class  or  classes  of such employees are entitled to  receive disability benefits under a plan or agreement which  remains  in  effect  on  July first, nineteen hundred fifty, the employer, subject to  the requirements of this section, shall be  relieved  of  responsibility  for  making  provision  for benefit payments required under this article  until the earliest date, determined by the chairman for the purposes  of  this   article,  upon  which  the  employer  shall  have  the  right  to  discontinue the provisions thereof or to discontinue  his  contributions  towards  the  cost.  Any such plan or agreement may be extended, with orwithout modification, by agreement or collective bargaining  between  an  employer  or employers or association of employers and an association of  employees, in which event the period for which the employer is  relieved  of such responsibility shall include such period of extension. Any other  plan  or  agreement  in  existence on the effective date of this article  which the employer may, by his sole act, terminate at any time, or  with  respect  to which he is not obligated to continue for any period to make  contributions, may  be  accepted  by  the  chairman  as  satisfying  the  obligation  to provide for the payment of benefits under this article if  such plan or agreement provides benefits at least as  favorable  as  the  disability  benefits  provided  by  this  article  and  does not require  contributions of any employee or of any class or classes of employees in  excess of the statutory amount provided in  section  two  hundred  nine,  subdivision  three, except by agreement and provided the contribution is  reasonably related to the value of the benefits  as  determined  by  the  chairman. The chairman may require that the employer shall enter into an  agreement  in writing with the chairman that he will pay the assessments  set forth in sections two hundred fourteen and two hundred  twenty-eight  and  that  until he shall have filed written notice with the chairman of  his election to terminate such  plan  or  agreement  or  to  discontinue  making  necessary contributions to its cost, he will continue to provide  for the payment of the disability benefits under such plan or agreement.    During any period in which any plan or agreement or extension  thereof  authorized under this subdivision provides for payment of benefits under  this article, the responsibility of the employer and the obligations and  benefits of the employees shall be as provided in said plan or agreement  rather  than  as  provided  under  this article, other than the benefits  provided in section two hundred seven,  and  provided  the  employer  or  carrier  has  agreed  to  pay  the assessments described in sections two  hundred fourteen and two hundred twenty-eight.    Any  such  plan  or  agreement  may  be  extended  with   or   without  modification,  provided  the  benefits  under such plan or agreement, as  extended or modified, shall be found by the chairman to be at  least  as  favorable as the benefits provided by this article.    5.  by  a  new  plan  or  agreement.  After the effective date of this  article, a new plan or agreement with a carrier may be accepted  by  the  chairman  as  satisfying  the  obligation  to provide for the payment of  benefits under this article if such  plan  or  agreement  shall  provide  benefits  at  least  as favorable as the disability benefits provided by  this article and does not require contributions of any  employee  or  of  any  class  or  classes  of  employees in excess of the statutory amount  provided in section two  hundred  nine,  subdivision  three,  except  by  agreement  and  provided  the  contribution is reasonably related to the  value of the benefits as determined by the chairman. Any  such  plan  or  agreement shall continue until written notice filed with the chairman of  intention  to  terminate such plan or agreement, and any modification of  such plan or agreement shall be subject to the written approval  of  the  chairman.    During  any period in which any plan or agreement or extension thereof  authorized under this subdivision provides for payment of benefits under  this article, the responsibility of the employer and the obligations and  benefits of the employees shall be as provided in said plan or agreement  rather than as provided under this  article,  other  than  the  benefits  provided  in  section  two  hundred  seven, and provided the employer or  carrier has agreed to pay the  assessments  described  in  sections  two  hundred fourteen and two hundred twenty-eight.    6.  if  any  plan  or agreement authorized under subdivisions four and  five of this section covers less than all of the employees of a  coveredemployer, the provisions of this article shall apply with respect to his  remaining employees not covered under such plan or agreement.    The  chairman  may  make  reasonable  regulations for the filing under  subdivisions four and five of this section of plans  and  agreements  to  provide for the payment of benefits under this article.

State Codes and Statutes

Statutes > New-york > Wkc > Article-9 > 211

§  211.  Provision  for payment of benefits. A covered employer shall,  with his own contributions  and  the  contributions  of  his  employees,  provide  disability  benefits  to  his  employees  in one or more of the  following ways:    1. by insuring and keeping insured the payment of such benefits in the  state fund, or    2. by insuring and keeping insured the payment of such  benefits  with  any  stock  or  mutual  corporation  or reciprocal insurer authorized to  transact the business of accident and health insurance in this state, or    3. by furnishing satisfactory proof to  the  chair  of  the  employers  financial  ability  to  pay such benefits, in which case the chair shall  require the deposit of such securities as the chair may  deem  necessary  of  the  kind  prescribed in subdivisions one, two, three, four and five  and paragraph a of subdivision seven of section two hundred  thirty-five  of  the  banking law or the deposit of cash or the filing of irrevocable  letters of credit issued by a qualified banking institution  as  defined  by  rules promulgated by the chair or the filing of the bond of a surety  company authorized to do business in  this  state,  conditioned  on  the  payment  by  the  employer  of its obligations under this article and in  form approved by the chair, or the posting and filing of  a  combination  of such securities, cash, irrevocable letters of credit and surety bonds  in  an  amount  to  be  determined  by  the  chair, to secure his or her  liability to pay the compensation provided in this chapter.  The  amount  of  deposit  or  of the penal sum of the bond shall be determined by the  chair and shall not be less than one-half the estimated contributions of  the employees of the employer for the ensuing year or  one-half  of  the  contributions  of  the  employees  which  would  have  been  paid by the  employees during the preceding year, whichever is  the  greater,  or  if  such  amount is more than fifty thousand dollars an amount not less than  fifty thousand dollars.   The chair shall  have  authority  to  deny  an  application  to  provide  benefits  pursuant  to  this subdivision or to  revoke approval at any time for good cause shown.  In  the  case  of  an  employer  who  maintains a deposit of securities, irrevocable letters of  credit or cash in accordance with subdivision three of section fifty  of  this  chapter,  the chair may reduce the amount of the deposit or of the  penal sum of the bond, provided the securities, irrevocable  letters  of  credit or cash deposited by or for such employer under subdivision three  of  section  fifty of this chapter are, by agreement satisfactory to the  chair, made available for the payment  of  unpaid  benefits  under  this  article with respect to obligations incurred for disabilities commencing  prior  to  the  effective  date  of  such  revocation. An association of  employers or employees authorized to pay benefits under this article  or  the  trustee  or  trustees  paying  benefits  under  a plan or agreement  authorized under subdivisions four and five of this  section,  may  with  the  approval  of the chair furnish such proof and otherwise comply with  the provisions  of  this  section  to  provide  disability  benefits  to  employees under such plan or agreement.    4.  by  a plan in existence on the effective date of this article.  If  on the effective date  of  this  article  the  employees  of  a  covered  employer  or  any  class  or  classes  of such employees are entitled to  receive disability benefits under a plan or agreement which  remains  in  effect  on  July first, nineteen hundred fifty, the employer, subject to  the requirements of this section, shall be  relieved  of  responsibility  for  making  provision  for benefit payments required under this article  until the earliest date, determined by the chairman for the purposes  of  this   article,  upon  which  the  employer  shall  have  the  right  to  discontinue the provisions thereof or to discontinue  his  contributions  towards  the  cost.  Any such plan or agreement may be extended, with orwithout modification, by agreement or collective bargaining  between  an  employer  or employers or association of employers and an association of  employees, in which event the period for which the employer is  relieved  of such responsibility shall include such period of extension. Any other  plan  or  agreement  in  existence on the effective date of this article  which the employer may, by his sole act, terminate at any time, or  with  respect  to which he is not obligated to continue for any period to make  contributions, may  be  accepted  by  the  chairman  as  satisfying  the  obligation  to provide for the payment of benefits under this article if  such plan or agreement provides benefits at least as  favorable  as  the  disability  benefits  provided  by  this  article  and  does not require  contributions of any employee or of any class or classes of employees in  excess of the statutory amount provided in  section  two  hundred  nine,  subdivision  three, except by agreement and provided the contribution is  reasonably related to the value of the benefits  as  determined  by  the  chairman. The chairman may require that the employer shall enter into an  agreement  in writing with the chairman that he will pay the assessments  set forth in sections two hundred fourteen and two hundred  twenty-eight  and  that  until he shall have filed written notice with the chairman of  his election to terminate such  plan  or  agreement  or  to  discontinue  making  necessary contributions to its cost, he will continue to provide  for the payment of the disability benefits under such plan or agreement.    During any period in which any plan or agreement or extension  thereof  authorized under this subdivision provides for payment of benefits under  this article, the responsibility of the employer and the obligations and  benefits of the employees shall be as provided in said plan or agreement  rather  than  as  provided  under  this article, other than the benefits  provided in section two hundred seven,  and  provided  the  employer  or  carrier  has  agreed  to  pay  the assessments described in sections two  hundred fourteen and two hundred twenty-eight.    Any  such  plan  or  agreement  may  be  extended  with   or   without  modification,  provided  the  benefits  under such plan or agreement, as  extended or modified, shall be found by the chairman to be at  least  as  favorable as the benefits provided by this article.    5.  by  a  new  plan  or  agreement.  After the effective date of this  article, a new plan or agreement with a carrier may be accepted  by  the  chairman  as  satisfying  the  obligation  to provide for the payment of  benefits under this article if such  plan  or  agreement  shall  provide  benefits  at  least  as favorable as the disability benefits provided by  this article and does not require contributions of any  employee  or  of  any  class  or  classes  of  employees in excess of the statutory amount  provided in section two  hundred  nine,  subdivision  three,  except  by  agreement  and  provided  the  contribution is reasonably related to the  value of the benefits as determined by the chairman. Any  such  plan  or  agreement shall continue until written notice filed with the chairman of  intention  to  terminate such plan or agreement, and any modification of  such plan or agreement shall be subject to the written approval  of  the  chairman.    During  any period in which any plan or agreement or extension thereof  authorized under this subdivision provides for payment of benefits under  this article, the responsibility of the employer and the obligations and  benefits of the employees shall be as provided in said plan or agreement  rather than as provided under this  article,  other  than  the  benefits  provided  in  section  two  hundred  seven, and provided the employer or  carrier has agreed to pay the  assessments  described  in  sections  two  hundred fourteen and two hundred twenty-eight.    6.  if  any  plan  or agreement authorized under subdivisions four and  five of this section covers less than all of the employees of a  coveredemployer, the provisions of this article shall apply with respect to his  remaining employees not covered under such plan or agreement.    The  chairman  may  make  reasonable  regulations for the filing under  subdivisions four and five of this section of plans  and  agreements  to  provide for the payment of benefits under this article.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Wkc > Article-9 > 211

§  211.  Provision  for payment of benefits. A covered employer shall,  with his own contributions  and  the  contributions  of  his  employees,  provide  disability  benefits  to  his  employees  in one or more of the  following ways:    1. by insuring and keeping insured the payment of such benefits in the  state fund, or    2. by insuring and keeping insured the payment of such  benefits  with  any  stock  or  mutual  corporation  or reciprocal insurer authorized to  transact the business of accident and health insurance in this state, or    3. by furnishing satisfactory proof to  the  chair  of  the  employers  financial  ability  to  pay such benefits, in which case the chair shall  require the deposit of such securities as the chair may  deem  necessary  of  the  kind  prescribed in subdivisions one, two, three, four and five  and paragraph a of subdivision seven of section two hundred  thirty-five  of  the  banking law or the deposit of cash or the filing of irrevocable  letters of credit issued by a qualified banking institution  as  defined  by  rules promulgated by the chair or the filing of the bond of a surety  company authorized to do business in  this  state,  conditioned  on  the  payment  by  the  employer  of its obligations under this article and in  form approved by the chair, or the posting and filing of  a  combination  of such securities, cash, irrevocable letters of credit and surety bonds  in  an  amount  to  be  determined  by  the  chair, to secure his or her  liability to pay the compensation provided in this chapter.  The  amount  of  deposit  or  of the penal sum of the bond shall be determined by the  chair and shall not be less than one-half the estimated contributions of  the employees of the employer for the ensuing year or  one-half  of  the  contributions  of  the  employees  which  would  have  been  paid by the  employees during the preceding year, whichever is  the  greater,  or  if  such  amount is more than fifty thousand dollars an amount not less than  fifty thousand dollars.   The chair shall  have  authority  to  deny  an  application  to  provide  benefits  pursuant  to  this subdivision or to  revoke approval at any time for good cause shown.  In  the  case  of  an  employer  who  maintains a deposit of securities, irrevocable letters of  credit or cash in accordance with subdivision three of section fifty  of  this  chapter,  the chair may reduce the amount of the deposit or of the  penal sum of the bond, provided the securities, irrevocable  letters  of  credit or cash deposited by or for such employer under subdivision three  of  section  fifty of this chapter are, by agreement satisfactory to the  chair, made available for the payment  of  unpaid  benefits  under  this  article with respect to obligations incurred for disabilities commencing  prior  to  the  effective  date  of  such  revocation. An association of  employers or employees authorized to pay benefits under this article  or  the  trustee  or  trustees  paying  benefits  under  a plan or agreement  authorized under subdivisions four and five of this  section,  may  with  the  approval  of the chair furnish such proof and otherwise comply with  the provisions  of  this  section  to  provide  disability  benefits  to  employees under such plan or agreement.    4.  by  a plan in existence on the effective date of this article.  If  on the effective date  of  this  article  the  employees  of  a  covered  employer  or  any  class  or  classes  of such employees are entitled to  receive disability benefits under a plan or agreement which  remains  in  effect  on  July first, nineteen hundred fifty, the employer, subject to  the requirements of this section, shall be  relieved  of  responsibility  for  making  provision  for benefit payments required under this article  until the earliest date, determined by the chairman for the purposes  of  this   article,  upon  which  the  employer  shall  have  the  right  to  discontinue the provisions thereof or to discontinue  his  contributions  towards  the  cost.  Any such plan or agreement may be extended, with orwithout modification, by agreement or collective bargaining  between  an  employer  or employers or association of employers and an association of  employees, in which event the period for which the employer is  relieved  of such responsibility shall include such period of extension. Any other  plan  or  agreement  in  existence on the effective date of this article  which the employer may, by his sole act, terminate at any time, or  with  respect  to which he is not obligated to continue for any period to make  contributions, may  be  accepted  by  the  chairman  as  satisfying  the  obligation  to provide for the payment of benefits under this article if  such plan or agreement provides benefits at least as  favorable  as  the  disability  benefits  provided  by  this  article  and  does not require  contributions of any employee or of any class or classes of employees in  excess of the statutory amount provided in  section  two  hundred  nine,  subdivision  three, except by agreement and provided the contribution is  reasonably related to the value of the benefits  as  determined  by  the  chairman. The chairman may require that the employer shall enter into an  agreement  in writing with the chairman that he will pay the assessments  set forth in sections two hundred fourteen and two hundred  twenty-eight  and  that  until he shall have filed written notice with the chairman of  his election to terminate such  plan  or  agreement  or  to  discontinue  making  necessary contributions to its cost, he will continue to provide  for the payment of the disability benefits under such plan or agreement.    During any period in which any plan or agreement or extension  thereof  authorized under this subdivision provides for payment of benefits under  this article, the responsibility of the employer and the obligations and  benefits of the employees shall be as provided in said plan or agreement  rather  than  as  provided  under  this article, other than the benefits  provided in section two hundred seven,  and  provided  the  employer  or  carrier  has  agreed  to  pay  the assessments described in sections two  hundred fourteen and two hundred twenty-eight.    Any  such  plan  or  agreement  may  be  extended  with   or   without  modification,  provided  the  benefits  under such plan or agreement, as  extended or modified, shall be found by the chairman to be at  least  as  favorable as the benefits provided by this article.    5.  by  a  new  plan  or  agreement.  After the effective date of this  article, a new plan or agreement with a carrier may be accepted  by  the  chairman  as  satisfying  the  obligation  to provide for the payment of  benefits under this article if such  plan  or  agreement  shall  provide  benefits  at  least  as favorable as the disability benefits provided by  this article and does not require contributions of any  employee  or  of  any  class  or  classes  of  employees in excess of the statutory amount  provided in section two  hundred  nine,  subdivision  three,  except  by  agreement  and  provided  the  contribution is reasonably related to the  value of the benefits as determined by the chairman. Any  such  plan  or  agreement shall continue until written notice filed with the chairman of  intention  to  terminate such plan or agreement, and any modification of  such plan or agreement shall be subject to the written approval  of  the  chairman.    During  any period in which any plan or agreement or extension thereof  authorized under this subdivision provides for payment of benefits under  this article, the responsibility of the employer and the obligations and  benefits of the employees shall be as provided in said plan or agreement  rather than as provided under this  article,  other  than  the  benefits  provided  in  section  two  hundred  seven, and provided the employer or  carrier has agreed to pay the  assessments  described  in  sections  two  hundred fourteen and two hundred twenty-eight.    6.  if  any  plan  or agreement authorized under subdivisions four and  five of this section covers less than all of the employees of a  coveredemployer, the provisions of this article shall apply with respect to his  remaining employees not covered under such plan or agreement.    The  chairman  may  make  reasonable  regulations for the filing under  subdivisions four and five of this section of plans  and  agreements  to  provide for the payment of benefits under this article.