N.Y. Comp. Codes R. & Regs. tit. 2 § 152.19

Current through Register Vol. 46, No. 50, December 11, 2024

Section 152.19 - Program document

(a) The administrator shall provide the chief executive officer of each sponsor with a copy of the defined benefit plan service award program document. Such program document shall consist of a copy of the program agreement, the trust agreement, and adoption agreement, as amended.

(b) The administrator shall prepare, maintain and may amend the program agreement. The program agreement shall set forth the rights and obligations of sponsors, volunteer ambulance workers, participants and beneficiaries of participants, and procedures for the administration of programs. The program agreement and any amendments thereto shall be consistent with the provisions of article 1l-AAA of the General Municipal Law and the provisions of these rules and regulations, as amended. If the program agreement is prepared by an administrative service agency or a financial organization, the program agreement and any amendments thereto shall not take effect until approved by the Comptroller.

(c) The Comptroller shall prepare and/or amend the trust agreement pursuant to subdivision 4 of section 219-p of the General Municipal Law. The Comptroller may, however, direct the program trustee to prepare and/or amend the trust agreement subject to review and approval by the Comptroller. The Comptroller shall provide to the administrator a copy of the trust agreement and any amendments thereto.

(d) The adoption agreement shall be prepared by the administrator and the sponsor as provided in section 152.5 of this Part.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 152.19