N.Y. Comp. Codes R. & Regs. tit. 2 § 152.4

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

Section 152.4 - Notice of adoption

(a) Within 60 days after the adoption of a defined benefit plan service award program, the chief executive officer of the sponsor shall file with the Office of the State Comptroller in Albany, NY, two copies of a verified notice of adoption which shall contain the following:

(1) a statement of the date on which the governing board of the sponsor approved the resolution authorizing adoption of the program and the vote thereon, and a certified copy of the resolution;

(2) a statement of the date on which the electors of the sponsor approved the proposition authorizing adoption of the program and the vote thereon, and a certified copy of the proposition;

(3) an opinion of legal counsel which shall:

(i) be addressed to the sponsor;

(ii) expressly provide that the administrator may rely thereon;

(iii) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to: the provisions of article 11-AAA of the General Municipal Law and such other statutes as may be relevant; the resolution of the governing board of the sponsor authorizing the adoption of the program; proof of any posting and publication of required notice; the certificate certifying the result of the vote on the proposition authorizing the adoption of the program; and, proof that the estimated annual cost as well as the program cost components disclosed in the proposition were prepared by the program actuary; and

(iv) express his or her opinion that the sponsor has undertaken all actions and proceedings required by law to adopt the program;

(4) a statement of the name, address and telephone number of the chief executive officer of the sponsor; and

(5) a statement of the name, address and telephone number of each ambulance company having volunteer ambulance workers who are potential participants in the program.

(b) Upon receipt of the notice of adoption, the Office of the State Comptroller shall notify the chief executive officer of the name, address and telephone number of the administrator. If the administrator is not the Comptroller, the Office of the State Comptroller shall forward one copy of the notice of the adoption to the administrator.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 152.4