NY Ins L § 4414 (2021)
2021 New York Laws ISC - Insurance Article 44 - Employee Welfare Funds 4414 - Supplementary Regulations; Extensions of Time; Service of Process; Records; Loans; Compliance.

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