§ 75 — Transition provisions

§ 75. Transition provisions. 1. Existing plans continued.\n a. Notwithstanding the effective date of this article, plans\nheretofore established pursuant to former subdivision three-a of section\nfifty of this chapter and not abandoned pursuant to the provisions of\nsection sixty-one of this chapter, shall continue to operate subject to\nthe provisions of such subdivision through December thirty-first,\nnineteen hundred fifty-six, with the same force and effect as if such\nsubdivision had not been repealed; provided, however, that no\napportionment shall be made thereunder during the year nineteen hundred\nfifty-six, and provided further, that unless a committee or\nadministrator is appointed pursuant to the provisions of section\nsixty-four of this chapter prior to August first, nineteen hundred\nfifty-six, the committee managing the plan pursuant to former\nsubdivision three-a of section fifty of this chapter shall prepare the\nestimate and make the apportionments provided for in paragraph b of this\nsubdivision.\n b. The committee or administrator shall, during the month of August,\nnineteen hundred fifty-six, prepare an estimate of the several amounts\nnecessary for the operation of the plan under this article for the year\nnineteen hundred fifty-seven as provided in section sixty-seven of this\nchapter, except that such estimate shall not provide for the repayment\nof any advances made by the county. The committee or administrator shall\nthen determine the share of such amounts chargeable to each participant\nin the manner prescribed by section sixty-six of this chapter. The\namounts so apportioned shall be collected in the same manner and at the\nsame time as provided in section sixty-seven of this chapter.\n c. Except in the county of Wayne, the committee or administrator\nshall, during the month of January, nineteen hundred fifty-seven,\ndetermine the total amount due the county for advances made to the plan\nprior to January first, nineteen hundred fifty-seven. All moneys of the\nplan as of December thirty-first, nineteen hundred fifty-six, shall be\napplied to the repayment of all such advances. If such moneys shall be\ninsufficient for such purpose, such an amount as may be necessary to\nrepay the balance of such advances shall be apportioned to each\nparticipant in the plan as of such date in the manner provided in former\nsubdivision three-a of section fifty of this chapter. Each such\nparticipant shall be notified in writing not later than the fifteenth\nday of February, nineteen hundred fifty-seven, of the amount so\napportioned as such participant's share. Each such participant shall pay\nthe county treasurer such amount by October first, nineteen hundred\nfifty-seven. If not paid on or before such date, such amount shall be\nrecovered by an action brought by the county or such amount shall be\ncollected by inclusion in the next succeeding tax levy, if any, against\nproperty taxable by the participant responsible therefor. Any such\nparticipant may provide all or part of such amount by the issuance of\nbonds or capital notes pursuant to the local finance law. All\nrepayments of advances shall be credited by the county treasurer to the\nfund from which such advances were made.\n d. Any moneys of the plan as of December thirty-first, nineteen\nhundred fifty-six, remaining after the repayment of all advances as\nprovided in paragraph c of this subdivision, shall be applied to the\npayment of liabilities or may be credited to a reserve established\npursuant to section sixty-nine of this chapter.\n 2. Existing plans abandoned. a. Notwithstanding the effective date of\nthis article, plans heretofore established pursuant to former\nsubdivision three-a of section fifty of this chapter which are deemed\nabandoned under the provisions of section sixty-one of this chapter,\nshall continue to operate subject to the provisions of such former\nsubdivision through October thirty-first, nineteen hundred fifty-six,\nwith the same force and effect as if such former subdivision had not\nbeen repealed; provided, however, that a committee appointed as provided\nin such former subdivision shall continue in existence until such time\nas all joint liabilities of the participants have been satisfied.\n b. During the month of November nineteen hundred fifty-six, such\ncommittee shall determine (1) the amount necessary to repay all advances\nfrom the county and (2) the amount, actuarially computed, necessary to\nsatisfy all outstanding joint liabilities of the participants. The\ncommittee shall then determine the share of such amounts chargeable to\neach participant in the plan in the manner prescribed by former\nsubdivision three-a of section fifty of this chapter. The amounts so\napportioned shall be collected in the same manner and at the same time\nas provided in such former subdivision. All moneys collected pursuant\nto this subdivision, after the repayment of advances, shall be accounted\nfor by the county treasurer in the workmen's compensation mutual fund.\nDisbursements from such fund shall be made upon the order of the\ncommittee.\n c. If at any time thereafter there shall be insufficient funds to meet\nsuch liabilities, the committee shall in like manner apportion and cause\nto be collected from each participant in the plan as of the date of\nabandonment, the amount necessary to satisfy such liabilities. The\nequalized valuations used as a basis for any such apportionment shall be\nthose existing as of the date of abandonment.\n