§ 106 — Consolidation of funds; definitions

§ 106. Consolidation of funds; definitions. On and after March first,\nnineteen hundred ninety, the stock workers' compensation security fund\nand the mutual workers' compensation security fund heretofore created\nare hereby consolidated into a single fund to be known as the "workers'\ncompensation security fund". All assets, liabilities, rights and\nobligations of the stock workers' compensation security fund and the\nmutual workers' compensation security fund are hereby transferred and\nassigned to and assumed by and devolved upon the workers' compensation\nsecurity fund and shall continue to be assets, liabilities, rights and\nobligations of such fund without diminution or impairment. As used in\nthis article, unless the context or subject matter otherwise require;\n "Fund" means the workers' compensation security fund.\n "Fund year" means the calendar year.\n "Stock carrier" means any stock corporation other than an insolvent\ncarrier, authorized to transact the business of workmen's compensation\ninsurance in this state.\n "Mutual carrier" means any mutual corporation or reciprocal insurer,\nother than an insolvent carrier, authorized to transact the business of\nworkmen's compensation insurance in this state.\n "Nonprofit property/casualty insurance company" means a nonprofit\nproperty/casualty insurance company as defined in paragraph fifty-three\nof subsection (a) of section one hundred seven of the insurance law.\n "Reciprocal insurer" means any reciprocal insurer authorized to\ntransact the business of workmen's compensation insurance in this state\nand such reciprocal insurer shall be deemed to be a mutual carrier\nwithin the intent of the several provisions of this article.\n "Carrier" means a stock or mutual corporation or a reciprocal insurer\nor a nonprofit property/casualty insurance company, if such corporation\nor insurer is authorized to transact the business of workers'\ncompensation insurance in this state, including but not limited to the\nissuance of an assumption of workers' compensation liability insurance\npolicy, but not including any such corporation or insurer which is\ninsolvent.\n "Insolvent carrier" means a carrier as to which an order of\nrehabilitation or of liquidation, or, if such carrier be a foreign\ninsurer, as to which an order for conservation of its assets within the\nstate, shall have been made after the effective date of this article\npursuant to article seventy-four of the insurance law, or a foreign\ncarrier which withdraws from or discontinues operation in this state and\nfails to meet payments due on awards made, but not including a carrier,\nwhether a domestic or foreign insurer, which shall have become\nrehabilitated and allowed to resume business after any such\nrehabilitation or conservation of assets and meets its obligations as\nthey mature.\n "Employer" includes any political subdivision liable for benefits\npursuant to the volunteer firefighters' benefit law.\n "Employment" includes the service of a volunteer firefighter for which\na political subdivision is liable for benefits pursuant to the volunteer\nfirefighters' benefit law.\n "Workers' compensation" and "compensation" include the benefits in\nrelation to volunteer firefighters and volunteer ambulance workers\npursuant to the volunteer firefighters' benefit law and the volunteer\nambulance workers' benefit law and benefits in relation to longshore and\nharbor workers pursuant to the longshore and harbor workers'\ncompensation act, United States Code, Title 33, Sections 901 through\n950.\n "This chapter" includes the volunteer firefighters' benefit law and\nthe volunteer ambulance workers' benefit law; and the longshore and\nharbor workers' compensation act, United States Code, Title 33, Sections\n901 through 950; except when such a meaning is inconsistent with this\narticle.\n