N.Y. Workers’ Compensation Law 216 – Disposition of uncommitted balance of employees' contributions
§ 216. Disposition of uncommitted balance of employees' contributions. Whenever any arrangement for the provision of benefits as set forth in section two hundred eleven is terminated, any uncommitted balance of employee contributions shall be utilized only to pay accrued benefits and to provide benefits under this article. On the liquidation of a covered employer's business, or when he shall cease to be a covered employer, any such sums so remaining in excess of those required to discharge obligations under this article may be used for the benefit of employees on a reasonable basis approved by the chairman, and any such sums not so used shall be promptly paid to the chairman for deposit in the fund created under section two hundred fourteen.
Terms Used In N.Y. Workers' Compensation Law 216
- Benefits: means the money allowances during disability payable to an employee who is eligible to receive such benefits, as provided in this article. See N.Y. Workers' Compensation Law 201
- Chairman: means the chairman of the workers' compensation board of the state of New York. See N.Y. Workers' Compensation Law 201
- Employee: means a person engaged in the service of an employer in any employment defined in subdivision six of this section, except a minor child of the employer, except a duly ordained, commissioned, or licensed minister, priest or rabbi, a sexton, a christian science reader, or member of a religious order, or an executive officer of a corporation who at all times during the period involved owns all of the issued and outstanding stock of the corporation and holds all of the offices pursuant to paragraph (e) of § 715 of the business corporation law or two executive officers of a corporation who at all times during the period involved between them own all of the issued and outstanding stock of such corporation and hold all such offices provided, however, that each officer must own at least one share of stock, except as provided in section two hundred twelve of this article, or an executive officer of an incorporated religious, charitable or educational institution, or persons engaged in a professional or teaching capacity in or for a religious, charitable or educational institution, or volunteers in or for a religious, charitable or educational institution, or persons participating in and receiving rehabilitative services in a sheltered workshop operated by a religious, charitable or educational institution under a certificate issued by the United States department of labor, or recipients of charitable aid from a religious or charitable institution who perform work in or for the institution which is incidental to or in return for the aid conferred, and not under an express contract of hire. See N.Y. Workers' Compensation Law 201