§ 50-b. Task force on group self-insurance. There is established the task force on group self-insurance whose membership shall consist of the chair or his or her designee, the superintendent of financial services or his or her designee, the commissioner of labor or his or her designee, and twelve members to be appointed by the governor as follows: two upon nomination of the speaker of the assembly, two upon nomination of the temporary president of the senate, one upon nomination by the president of the New York state American federation of labor-congress of industrial organizations, one upon the nomination of the business council of New York state, one who is a representative of an individual self-insurer or representative of an organization that represents individual self-insurers, one who is a trustee or administrator of a group self-insurer or representative of an organization that represents group self-insurers, one who is a representative of an organization that represents workers' compensation claimants, and three others without limitation. The governor shall appoint the chair of the task force. The task force shall report to the governor, the speaker of the assembly and the temporary president of the senate on or before February first, two thousand nine making recommendations concerning:

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1. the prevention of future defaults by group self-insurers;

2. regulation of group self-insurers and its impact and effectiveness;

3. payment of claims insured by defaulted group self-insurers;

4. the long term viability of group self-insurers; and

5. such other topics related to group self-insurance as the task force may deem necessary.