N.Y. Banking Law § 490-e: Powers and duties of trustee or trustees

§ 490-e. Powers and duties of trustee or trustees. It shall be the

duty of the corporate trustee or the board of trustees, as the case may

be, to collect the initial contribution to the fund, to call for, and to

collect by legal proceedings if necessary, such subsequent contributions

as become payable under the terms of the agreement, and to administer

the fund so created in accordance with the terms of the agreement. Such

part of the fund as is not required to be kept on hand or in bank for

the purpose of meeting and satisfying demands made by the superintendent

pursuant to the next succeeding section, may be invested in obligations

of the United States and of the state of New York, and of any county or

municipality of the state of New York.