New York Codes, Rules and Regulations
Title 12 - DEPARTMENT OF LABOR
Chapter V - Workers' Compensation
Subchapter B - Self-insurers
Part 316 - Rules
Section 316.3 - Increase or reduction in the amount of deposit
Universal Citation: 12 NY Comp Codes Rules and Regs ยง 316.3
Current through Register Vol. 46, No. 12, March 20, 2024
The chair may require the deposit of additional securities and/or cash, an increase in the penal sum of the surety bond and/or an increase in the aggregate amount of the letters of credit, or, on application of the self-insurer, return a part of the securities or cash on deposit, permit a reduction in the penal sum of the surety bond and/or a reduction in the aggregate amount of the letters of credit, in such amounts as he or she may deem necessary or determine to be advisable to secure the self-insurer's liability under the Workers' Compensation Law.
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