N.Y. Insurance Law § 5503: Plan of operation

§ 5503. Plan of operation. (a) The association shall operate in

accordance with a plan of operation approved by the superintendent which

provides for economic, fair and non-discriminatory administration and

for the prompt and efficient provision of medical malpractice insurance.

(b) The plan shall contain other provisions including but not limited

to preliminary assessment of all members for initial expenses necessary

to commence operations, establishment of necessary facilities,

management of the association, assessment of members to defray losses

and expenses, service charges, acceptance and cession of reinsurance,

appointment of servicing carriers or other servicing arrangements and

procedures for determining amounts of insurance to be provided by the

association.

(c) Amendments to the plan of operation may be made by the board of

directors of the association, subject to the approval of the

superintendent, or shall be made at the direction of the superintendent.

(d) The association shall be subject to the provisions of this chapter

applicable to property/casualty insurers in the conduct of its business,

in order to provide for the fair treatment of policyholders and

claimants.

(e) The association shall make the lump sum payments provided for in

subdivision (b) of section five thousand thirty-six of the civil

practice law and rules and receive the periodic payments due under the

annuity contract provided for therein.