N.Y. Workers' Compensation Law § 216: Disposition of uncommitted balance of employees' contributions

§ 216. Disposition of uncommitted balance of employees' contributions.

Whenever any arrangement for the provision of benefits as set forth in

section two hundred eleven is terminated, any uncommitted balance of

employee contributions shall be utilized only to pay accrued benefits

and to provide benefits under this article. On the liquidation of a

covered employer's business, or when he shall cease to be a covered

employer, any such sums so remaining in excess of those required to

discharge obligations under this article may be used for the benefit of

employees on a reasonable basis approved by the chairman, and any such

sums not so used shall be promptly paid to the chairman for deposit in

the fund created under section two hundred fourteen.