N.Y. Workers' Compensation Law § 90: Dividends

§ 90. Dividends. Policyholders insured in the state insurance fund may

be divided into such groups as shall be equitable for the purpose of

accounting and declaration of dividends but for the purpose of paying

compensation the state fund shall be deemed one and indivisible.

Separate accounts shall be kept of income and of losses and expenses

incurred, including contributions to catastrophe surplus and reserves

adequate to meet anticipated losses and carry all claims to maturity,

for each such group. If such accounting shows a balance remaining to the

credit of the group at the close of any policy period, which shall be

deemed to be safely and properly so applied, there may be credited or

paid to each individual member of such group such proportion of such

balance as the amount of his earned premium sustains to the total earned

premium of the group for the period for which the accounting is made. If

any member who has withdrawn from the group would otherwise have been

entitled to such a dividend, the same may be credited or paid to him.