N.Y. Workers' Compensation Law § 87-e: Amortization of gains or losses

§ 87-e. Amortization of gains or losses. Gains or losses realized by

the state insurance fund as a result of sales or dispositions pursuant

to the authorization and direction of section eighty-seven-a,

eighty-seven-b, eighty-seven-bb, eighty-seven-c, or eighty-seven-f of

this chapter shall be transferred to a special asset account to be known

as the deferred charge on account of security exchanges and shall be

amortized within such account on a basis which matches as nearly as

possible all gains or losses so realized against any increase or

decrease in income resulting from the reinvestment of the proceeds of

such sales or dispositions, provided that the period of amortization of

the gain or loss resulting from the sale or disposition of each

investment shall not be longer than the unexpired period from the date

of such sale or disposition to the maturity of the investment so sold or

disposed of, or on such other basis as the superintendent of financial

services may authorize in his discretion.