New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 2. Department of Audit and Control |
Chapter IV. Miscellaneous Rules |
Part 152. Defined Benefit Service Award Programs for Volunteer Ambulance Workers |
Sec. 152.23. Acknowledgment
Latest version.
- (a) Each actuary, administrative service agency or financial organization selected to provide services in connection with service award programs shall contractually agree to discharge its duties as a fiduciary to service award programs. In addition, when a financial organization is selected to perform duties in connection with investment matters, it shall contractually agree to discharge its duties as a fiduciary in accordance with the prudent expert standard of care.