N.Y. ISC Law § 4414 — New York Code / Act ISC / Article 44 / Section 4414
Supplementary regulations; extensions of time; service of process; records; loans; compliance
Status: in_force

§ 4414. Supplementary regulations; extensions of time; service of\nprocess; records; loans; compliance. (a) The superintendent may from\ntime to time promulgate appropriate supplementary rules and regulations\nto carry out the express provisions and purposes of this article.\n  (b) For good cause shown, the superintendent may grant reasonable\nextensions of time for doing any act required by this article.\n  (c) (1) The trustees of any employee welfare fund which has its\nprincipal place of business without the state shall, within ten days\nafter registering a fund with the superintendent, file with the\nsecretary of state a designation, subscribed by them and affirmed as\ntrue under the penalties of perjury, irrevocably appointing the\nsecretary of state as their agent upon whom may be served any process\ndirected to such trustees, in any action or proceeding brought pursuant\nto the provisions of this article arising out of or in connection with\nany transaction, matter or thing relating to such fund. If the trustees\nfail to make such designation in the prescribed time and manner they\nshall be deemed to have irrevocably appointed the secretary of state as\nsuch agent.\n  (2) Service shall be made by serving the secretary of state with a\ncopy of the process and shall be sufficient provided that notice of the\nservice and a copy of the process are sent by the moving party within\nten days of the service to the trustees at the office address of the\nfund, by registered mail with return receipt requested.\n  (3) In any examination or hearing instituted by the superintendent,\nservice of such process shall be complete ten days after the receipt by\nthe superintendent of a return receipt purporting to be signed by the\ntrustees or their agent or agents in accordance with the rules and\ncustoms of the United States postal service, or if acceptance was\nrefused by the trustees or their agents, the original envelope bearing a\nnotation by the postal authorities that receipt was refused.\n  (4) In any action or proceeding instituted in any court in this state,\nthe moving party shall file with the court in which such action or\nproceeding is pending an affidavit of compliance herewith, a copy of the\nprocess, and either the return receipt or the original envelope bearing\na notation of refusal, within thirty days after the return receipt or\noriginal envelope is received by the moving party, at which time service\nof process shall be complete.\n  (5) Service of any process made in accordance with this subsection\nshall be deemed to have been made personally within the state and, in\nthe case of a court action or proceeding, within the territorial\njurisdiction of the court from which such process issued.\n  (d) The trustees of every employee welfare fund shall preserve all its\nrecords of final entry and all reports and statements required by this\narticle and the regulations issued under it for a period of at least six\nyears from the date of making the same. Preservation of photographic\nreproduction of records or records in photographic form shall constitute\ncompliance with this subsection.\n  (e) Subject to the restrictions of this article, any employee welfare\nfund may lend money to any employees covered by such fund or their\nchildren, who are attending or planning to attend college, to assist\nthem in meeting their expenses of higher education and where the loans\nare guaranteed by the New York higher education services corporation in\naccordance with the provisions of article fourteen of the education law.\nIn such cases no further security for the repayment of such loans shall\nbe required of the borrowers by such fund.\n  (f) Nothing in this article shall be construed to relieve the trustees\nof any employee welfare fund from compliance with any other provision of\nthis chapter or any other applicable laws of this state.\n