In the case of an accident occurring before July 1, 1939, the insurance carrier shall not be entitled to a refund in the event of the death of a claimant after the commuted amount has been paid into the aggregate trust fund, nor shall the carrier receive any credit for the amount paid in on a disability case if death results from the accident subsequently and an award is made for death benefits.
N.Y. Comp. Codes R. & Regs. Tit. 12 § 393.9