§ 4713. Plan dissolution. (a) In any case in which the governing board
of a municipal cooperative health benefit plan determines that there is
reason to believe that the plan will terminate, the governing board
shall so inform the superintendent and submit a plan for the
superintendent's approval for winding up the plan's affairs in an
orderly manner designed to result in timely payment of all benefits, in
such form and manner as the superintendent may prescribe.

(b) No part of any funds of the municipal cooperative health benefit
plan shall be subject to the claims of general creditors of any
participating municipal corporation until all plan benefits and other
plan obligations have been satisfied.

(c) The superintendent may maintain a proceeding under article
seventy-four of this chapter to rehabilitate or liquidate the business
of a municipal cooperative health benefit plan, which shall be
considered an insurer for such purpose under section seven thousand four
hundred one of this chapter.