N.Y. WKC Law § 216
This is the official text of N.Y. WKC Law § 216, part of New York’s WKC Law — part of the compiled statutory law of New York, published by the state as "WKC Law." Browse the sections below, each linked to its official government source.
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Disposition of uncommitted balance of employees' contributions
Official statutory text
§ 216. Disposition of uncommitted balance of employees' contributions.\nWhenever any arrangement for the provision of benefits as set forth in\nsection two hundred eleven is terminated, any uncommitted balance of\nemployee contributions shall be utilized only to pay accrued benefits\nand to provide benefits under this article. On the liquidation of a\ncovered employer's business, or when he shall cease to be a covered\nemployer, any such sums so remaining in excess of those required to\ndischarge obligations under this article may be used for the benefit of\nemployees on a reasonable basis approved by the chairman, and any such\nsums not so used shall be promptly paid to the chairman for deposit in\nthe fund created under section two hundred fourteen.\n
Status: in_force · Read it on the official government site
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