N.Y. WKC Law § 73

§ 73. Abandonment of plan. The board of supervisors of a county may by\nlocal law provide for the abandonment of a plan, effective as of the\nclose of the calendar year then in progress. Such plan, however, shall\ncontinue to operate thereafter until all liabilities of the plan\nincurred prior to such effective date shall have been satisfied and all\nadvances to the county self-insurance fund shall have been repaid. Such\nlocal law shall provide a method for the distribution of any assets of\nthe plan remaining after all such liabilities have been satisfied. The\nprovisions of this section shall not apply to any plan abandoned\npursuant to section sixty-one of this chapter. At the discretion of the\nchair, the board of supervisors of a county may execute an assumption of\nworkers' compensation liability insurance policy securing such further\nand future contingent liability as may arise from prior injuries to\nworkers and be incurred by reason of any change in the condition of such\nworkers warranting the board making subsequent awards for payment of\nadditional compensation. Such policy shall be in a form approved by the\nsuperintendent of financial services and shall be issued by the state\nfund or any insurance company licensed to issue this class of insurance\nin this state. In the event that such policy is issued by an insurance\ncompany other than the state fund, then said policy shall be deemed to\nbe of the kind specified in paragraph fifteen of subsection (a) of\nsection one thousand one hundred thirteen of the insurance law and\ncovered by the workers' compensation security fund as created and\ngoverned by article six-A of this chapter. It shall only be issued for a\nsingle complete premium payment in advance by the county, city, village,\ntown, school district, fire district or other political subdivision of\nstate and in an amount deemed acceptable by the chair and the\nsuperintendent of financial services. In lieu of the applicable premium\ncharge ordinarily required to be imposed by a carrier, said premium\nshall include a surcharge in an amount to be determined by the chair to\nsatisfy all assessment liability due and owing to the board and/or the\nchair under this chapter. Said surcharge shall be payable to the board\nsimultaneous to the execution of the assumption of workers' compensation\nliability insurance policy. However, the payment of said surcharge does\nnot relieve the carrier from any other liability, including liability\nowed to the superintendent of financial services pursuant to article\nsix-A of this chapter. When issued such policy shall be non-cancellable\nwithout recourse for any cause during the continuance of the liability\nsecured and so covered.\n