§ 89-f. Workers' compensation security fund payment account. 1. There is hereby established in the custody of the superintendent of financial services a special revenue fund to be known as the "workers' compensation security fund payment account".

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

2. Such account shall consist of all moneys received by the workers' compensation security fund as payments pursuant to section one hundred eight of the workers' compensation law, and all other moneys credited or transferred thereto from any other fund or source pursuant to law.

3. The moneys of the workers' compensation security fund payment account shall be made available to the superintendent of financial services to pay for the borrowing of any funds pursuant to § 7433-a of the insurance law and for payments to the workers' compensation security fund for payment of awards certified by the superintendent of financial services. All payments from such account shall be made upon the audit and warrant of the comptroller on vouchers certified or approved by the superintendent of financial services in the manner prescribed by law.