§ 109-A — Administration of fund

New York § 109-A

• Jurisdiction: New York
• Law WKC: Workers' Compensation
• Art. 6-A: Workers' Compensation Security Fund

Text

§ 109-a. Administration of fund. The superintendent of financial\nservices may adopt, amend and enforce all reasonable rules and\nregulations necessary for the proper administration of said fund. In the\nevent any carrier shall fail to file any return or make any payment\nrequired by this article, or in case the superintendent of financial\nservices shall have cause to believe that any return or other statement\nfiled is false or inaccurate in any particular, or that any payment made\nis incorrect, the superintendent shall have full authority to examine\nall the books and records of the carrier for the purpose of ascertaining\nthe facts and shall determine the correct amount to be paid and may\nproceed in any court of competent jurisdiction to recover for the\nbenefit of the fund any sums shown to be due upon such examination and\ndetermination. Any carrier which fails to make any statement as required\nby this article, or to pay any contribution to the fund when due, shall\nthereby forfeit to said fund a penalty of five per centum of the amount\nof unpaid contribution determined to be due as provided by this article\nplus one per centum of such amount for each month of delay, or fraction\nthereof, after the expiration of the first month of such delay but the\nsuperintendent, if satisfied that the delay was excusable, may remit all\nor any part of such penalty. The superintendent, in his discretion, may\nrevoke the certificate of authority to do business in this state of any\nforeign carrier which shall fail to comply with this article or to pay\nany penalty imposed in accordance with this article.\n