N.Y. Insurance Law § 5516-f: Further transfer of moneys of the association

§ 5516-f. Further transfer of moneys of the association. (a)

Notwithstanding any other provision of law, the association and all

officers and directors with responsibility for custody or investment of

the association's assets are authorized and directed to further transfer

and deposit two hundred fifty million dollars to the miscellaneous

special revenue fund on or before September thirtieth, nineteen hundred

ninety-nine.

(b) Notwithstanding any other provision of law, the association and

all officers and directors with responsibility for custody or investment

of the association's assets are authorized and directed to further

transfer and deposit all revenues generated pursuant to the

association's dissolution pursuant to paragraph two of subsection (c) of

section five thousand five hundred two of this article to the

miscellaneous special revenue fund on or before December thirtieth, two

thousand.

(c) Notwithstanding any other provision of law, no director, officer

or employee of the association, nor the association, nor any public

officer or employee, nor any actuary, attorney, or advisor to the

association or to the superintendent shall incur or suffer any liability

whatsoever to any person by reason of actions taken pursuant to

authorizations or directions of the provisions of subsections (a) or (b)

of this section pursuant to which any of the moneys of the association

are transferred to the miscellaneous special revenue fund. Any action

which could have been brought against any of the persons or parties or

entities noted herein, but for the provisions of this section, shall be

brought against the state.