N.Y. Insurance Law § 4414: Supplementary regulations; extensions of time; service of process; records; loans; compliance

§ 4414. Supplementary regulations; extensions of time; service of

process; records; loans; compliance. (a) The superintendent may from

time to time promulgate appropriate supplementary rules and regulations

to carry out the express provisions and purposes of this article.

(b) For good cause shown, the superintendent may grant reasonable

extensions of time for doing any act required by this article.

(c) (1) The trustees of any employee welfare fund which has its

principal place of business without the state shall, within ten days

after registering a fund with the superintendent, file with the

secretary of state a designation, subscribed by them and affirmed as

true under the penalties of perjury, irrevocably appointing the

secretary of state as their agent upon whom may be served any process

directed to such trustees, in any action or proceeding brought pursuant

to the provisions of this article arising out of or in connection with

any transaction, matter or thing relating to such fund. If the trustees

fail to make such designation in the prescribed time and manner they

shall be deemed to have irrevocably appointed the secretary of state as

such agent.

(2) Service shall be made by serving the secretary of state with a

copy of the process and shall be sufficient provided that notice of the

service and a copy of the process are sent by the moving party within

ten days of the service to the trustees at the office address of the

fund, by registered mail with return receipt requested.

(3) In any examination or hearing instituted by the superintendent,

service of such process shall be complete ten days after the receipt by

the superintendent of a return receipt purporting to be signed by the

trustees or their agent or agents in accordance with the rules and

customs of the United States postal service, or if acceptance was

refused by the trustees or their agents, the original envelope bearing a

notation by the postal authorities that receipt was refused.

(4) In any action or proceeding instituted in any court in this state,

the moving party shall file with the court in which such action or

proceeding is pending an affidavit of compliance herewith, a copy of the

process, and either the return receipt or the original envelope bearing

a notation of refusal, within thirty days after the return receipt or

original envelope is received by the moving party, at which time service

of process shall be complete.

(5) Service of any process made in accordance with this subsection

shall be deemed to have been made personally within the state and, in

the case of a court action or proceeding, within the territorial

jurisdiction of the court from which such process issued.

(d) The trustees of every employee welfare fund shall preserve all its

records of final entry and all reports and statements required by this

article and the regulations issued under it for a period of at least six

years from the date of making the same. Preservation of photographic

reproduction of records or records in photographic form shall constitute

compliance with this subsection.

(e) Subject to the restrictions of this article, any employee welfare

fund may lend money to any employees covered by such fund or their

children, who are attending or planning to attend college, to assist

them in meeting their expenses of higher education and where the loans

are guaranteed by the New York higher education services corporation in

accordance with the provisions of article fourteen of the education law.

In such cases no further security for the repayment of such loans shall

be required of the borrowers by such fund.

(f) Nothing in this article shall be construed to relieve the trustees

of any employee welfare fund from compliance with any other provision of

this chapter or any other applicable laws of this state.