N.Y. Insurance Law § 4401: Declaration of policy

§ 4401. Declaration of policy. (a) It is declared to be the policy of

the state that employee welfare funds are of great benefit to employees

and their families and that their growth should be encouraged; that the

establishment and management of such funds vitally affect the well-being

of millions of people and are in the public interest.

(b) It is further declared that such funds should be supervised by the

state to the extent necessary to protect the rights of employees and

their families, without imposing burdens on the funds which might

discourage their orderly growth and without duplicating the supervisory

responsibilities of any state agency.