New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter IV - Miscellaneous Rules
Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers
Section 152.5 - Adoption agreement
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Within 30 days of receipt of a notice of adoption, the administrator shall send to the chief executive officer of the sponsor a copy of the program agreement, the trust agreement and two copies of a completed adoption agreement for the program.
(b) The adoption agreement shall contain a statement that the sponsor agrees to abide by the provisions of article 11-AAA of the General Municipal Law, the rules and regulations promulgated thereunder and the program and trust agreements, as amended from time to time. The adoption agreement shall incorporate the following terms of the program as determined by the sponsor:
(c) Within 10 days of receipt of the completed adoption agreement from the administrator, the sponsor's legal counsel shall review the adoption agreement for consistency with the resolution authorizing the adoption of the program and the proposition submitted to referendum. Thereafter, the chief executive officer of the sponsor shall execute two originals of the adoption agreement, retain one executed original of the adoption agreement and the program and trust agreements as public records, and file one executed original of the adoption agreement with the administrator. The chief executive officer shall also cause a copy of the adoption agreement and program and trust agreements to be provided to each ambulance company for which the program is adopted.
(d) Upon receipt of one executed original of an adoption agreement, the administrator shall forward a copy of the adoption agreement to the program actuary.
(e) The administrator and the program actuary shall rely on the terms of the program as set forth in the adoption agreement until the administrator and program actuary receive a copy of an amended adoption agreement or notice of termination as provided in section 152.14 of this Part.