§ 75. Transition provisions. 1. Existing plans continued.

a. Notwithstanding the effective date of this article, plans
heretofore established pursuant to former subdivision three-a of section
fifty of this chapter and not abandoned pursuant to the provisions of
section sixty-one of this chapter, shall continue to operate subject to
the provisions of such subdivision through December thirty-first,
nineteen hundred fifty-six, with the same force and effect as if such
subdivision had not been repealed; provided, however, that no
apportionment shall be made thereunder during the year nineteen hundred
fifty-six, and provided further, that unless a committee or
administrator is appointed pursuant to the provisions of section
sixty-four of this chapter prior to August first, nineteen hundred
fifty-six, the committee managing the plan pursuant to former
subdivision three-a of section fifty of this chapter shall prepare the
estimate and make the apportionments provided for in paragraph b of this
subdivision.

b. The committee or administrator shall, during the month of August,
nineteen hundred fifty-six, prepare an estimate of the several amounts
necessary for the operation of the plan under this article for the year
nineteen hundred fifty-seven as provided in section sixty-seven of this
chapter, except that such estimate shall not provide for the repayment
of any advances made by the county. The committee or administrator shall
then determine the share of such amounts chargeable to each participant
in the manner prescribed by section sixty-six of this chapter. The
amounts so apportioned shall be collected in the same manner and at the
same time as provided in section sixty-seven of this chapter.

c. Except in the county of Wayne, the committee or administrator
shall, during the month of January, nineteen hundred fifty-seven,
determine the total amount due the county for advances made to the plan
prior to January first, nineteen hundred fifty-seven. All moneys of the
plan as of December thirty-first, nineteen hundred fifty-six, shall be
applied to the repayment of all such advances. If such moneys shall be
insufficient for such purpose, such an amount as may be necessary to
repay the balance of such advances shall be apportioned to each
participant in the plan as of such date in the manner provided in former
subdivision three-a of section fifty of this chapter. Each such
participant shall be notified in writing not later than the fifteenth
day of February, nineteen hundred fifty-seven, of the amount so
apportioned as such participant's share. Each such participant shall pay
the county treasurer such amount by October first, nineteen hundred
fifty-seven. If not paid on or before such date, such amount shall be
recovered by an action brought by the county or such amount shall be
collected by inclusion in the next succeeding tax levy, if any, against
property taxable by the participant responsible therefor. Any such
participant may provide all or part of such amount by the issuance of
bonds or capital notes pursuant to the local finance law. All
repayments of advances shall be credited by the county treasurer to the
fund from which such advances were made.

d. Any moneys of the plan as of December thirty-first, nineteen
hundred fifty-six, remaining after the repayment of all advances as
provided in paragraph c of this subdivision, shall be applied to the
payment of liabilities or may be credited to a reserve established
pursuant to section sixty-nine of this chapter.

2. Existing plans abandoned. a. Notwithstanding the effective date of
this article, plans heretofore established pursuant to former
subdivision three-a of section fifty of this chapter which are deemed
abandoned under the provisions of section sixty-one of this chapter,
shall continue to operate subject to the provisions of such former
subdivision through October thirty-first, nineteen hundred fifty-six,
with the same force and effect as if such former subdivision had not
been repealed; provided, however, that a committee appointed as provided
in such former subdivision shall continue in existence until such time
as all joint liabilities of the participants have been satisfied.

b. During the month of November nineteen hundred fifty-six, such
committee shall determine (1) the amount necessary to repay all advances
from the county and (2) the amount, actuarially computed, necessary to
satisfy all outstanding joint liabilities of the participants. The
committee shall then determine the share of such amounts chargeable to
each participant in the plan in the manner prescribed by former
subdivision three-a of section fifty of this chapter. The amounts so
apportioned shall be collected in the same manner and at the same time
as provided in such former subdivision. All moneys collected pursuant
to this subdivision, after the repayment of advances, shall be accounted
for by the county treasurer in the workmen's compensation mutual fund.
Disbursements from such fund shall be made upon the order of the
committee.

c. If at any time thereafter there shall be insufficient funds to meet
such liabilities, the committee shall in like manner apportion and cause
to be collected from each participant in the plan as of the date of
abandonment, the amount necessary to satisfy such liabilities. The
equalized valuations used as a basis for any such apportionment shall be
those existing as of the date of abandonment.