N.Y. Banking Law § 490-d: Provisions of agreement

§ 490-d. Provisions of agreement. The agreement shall provide for the

following: (a) The designation of a corporate trustee or a board of

trustees to administer the fund and procedure for the resignation or

removal of any such trustee or trustees and for the selection of a

substitute trustee or trustees;

(b) The amount of the initial contribution to the fund, which shall be

made by all parties to the agreement ratably in proportion to their

respective share and deposit liabilities, and which shall be not less

than one-fourth of one per centum of the total share and deposit

liabilities, of each such party;

(c) The manner of making subsequent calls for contributions, which

shall be made ratably upon all parties to the agreement in proportion to

their respective share and deposit liabilities, except that the

superintendent, where he deems it necessary and advisable, may exempt

any such party or parties from any such call in whole or in part;

(d) Procedure for amendment of such agreement and its termination and

liquidation of the fund;

(e) The powers to be vested in the corporate trustee or board of

trustees, as the case may be, and the manner in which such powers shall

be exercised;

(f) The distribution of any earnings realized from the fund which

distribution shall be made only with the written consent of the

superintendent;

(g) The method of determining from time to time the amount of the

share and deposit liabilities of the respective parties to the

agreement;

(h) The requirements to be complied with by a party to the agreement

desiring to withdraw therefrom prior to its termination, provided the

contributions to the fund theretofore made by such withdrawing party

shall not be returned but shall remain the property of the fund.