N.Y. Workers' Compensation Law § 69: Reserve

§ 69. Reserve. 1. The board of supervisors in connection with a plan

may by local law establish a self-insurance reserve. Such local law

shall prescribe the maximum amount which may be contributed to any such

reserve.

2. The committee or administrator may at any time in its or his

discretion expend moneys in such reserve to pay any liability of the

plan.

3. The committee or administrator may direct the county treasurer to

invest moneys in any such reserve in the manner prescribed by section

eleven of the general municipal law.

4. In the event of abandonment of a plan, all moneys remaining in such

reserve in excess of an amount sufficient to satisfy all accrued and

contingent liabilities, shall be refunded to the participants in such

manner as may be provided by local law adopted by the board of

supervisors.