N.Y. STF Law § 99-Y*2 — New York Code / Act STF / Article 6 / Section 99-Y*2
Health republic insurance of New York fund
Status: in_force

* § 99-y. Health republic insurance of New York fund. 1. There is\nhereby established in the joint custody of the state comptroller and the\nsuperintendent of the department of financial services a special fund to\nbe known as the "health republic insurance of New York fund".\n  2. (a) Such fund shall consist of transfers as authorized by the\ndirector of the budget, in his or her sole discretion, between April\nfirst, two thousand sixteen and March thirty-first, two thousand\nnineteen, from amounts collected as a result of a judgement,\nstipulation, decree, agreement to settle, assurance of discontinuance,\nor other legal instrument resolving any claim or cause of action,\nwhether filed or unfiled, actual or potential, and whether arising under\ncommon law, equity, or any provision of law, and all other monies\nappropriated, credited, or transferred thereto from any other fund or\nsource pursuant to law.\n  (b) Paragraph (a) of this subdivision shall not apply to: (i) moneys\nto be distributed to the federal government, to a local government, or\nto any holder of a bond or other debt instrument issued by the state,\nany public authority, or any public benefit corporation; (ii) moneys to\nbe distributed solely or exclusively as a payment of damages or\nrestitution to individuals or entities that were specifically injured or\nharmed by the defendant's or settling party's conduct and that are\nidentified in, or can be identified by the terms of, the relevant\njudgment, agreement to settle, assurance of discontinuance, or relevant\ninstrument resolving the claim or cause of action; (iii) moneys\nrecovered or obtained by a state agency or a state official or employee\nacting in their official capacity where application of paragraph (a) of\nthis subdivision is prohibited by federal law, rule, or regulation, or\nwould result in the reduction or loss of federal funds or eligibility\nfor federal benefits pursuant to federal law, rule, or regulation; (iv)\nmoneys recovered or obtained by or on behalf of a public authority, a\npublic benefit corporation, the department of taxation and finance, the\nworkers' compensation board, the New York state higher education\nservices corporation, the tobacco settlement financing corporation, a\nstate or local retirement system, an employee health benefit program\nadministered by the New York state department of civil service, the\nTitle IV-D child support fund, the lottery prize fund, the abandoned\nproperty fund, or an endowment of the state university of New York or\nany unit thereof or any state agency, provided that all of the moneys\nreceived or recovered are immediately transferred to the relevant public\nauthority, public benefit corporation, department, fund, program, or\nendowment; (v) moneys to be refunded to an individual or entity as (1)\nan overpayment of a tax, fine, penalty, fee, insurance premium, loan\npayment, charge or surcharge; (2) a return of seized assets; or (3) a\npayment made in error; and (vi) moneys to be used to prevent, abate,\nrestore, mitigate, or control any identifiable instance of prior or\nongoing water, land or air pollution.\n  3. Monies shall be paid out of this fund at the discretion of the\nsuperintendent of the department of financial services only pursuant to\nappropriation and the terms to be set forth in a future chapter of law.\n  4. Monies shall be paid out of this fund only after the distribution\nof all assets in connection with a liquidation proceeding of Health\nRepublic Insurance of New York filed pursuant to article seventy-four of\nthe insurance law has been completed.\n  5. Monies shall be paid out of this fund on the audit and warrant of\nthe state comptroller on vouchers certified or approved by the\nsuperintendent of the department of financial services.\n  * NB There are 3 § 99-y's\n