Sec. 60-1.4. Payments to insured

Such an “owner's policy of liability insurance” shall be subject to the applicable provisions of section 3420 of the Insurance Law, as amended. For the purpose of complying with the provisions of subsection (f)(1) of section 3420, no policy subject to this Part shall be issued by any authorized insurer unless it contains coverage providing for payments to the insured, as defined in such coverage, by the New York Motor Vehicle Accident Indemnification Corporation, pursuant to the provisions of article 52 of the Insurance Law applicable to such payments.