N.Y. Comp. Codes R. & Regs. tit. 9 § 1647-4.8
Current through Register Vol. 46, No. 25, June 18, 2024
At the end of each calendar quarter, the provision for replacements as per Table II of the schedule of replacement reserve requirements shall be transferred from the administration fund to the reserve fund, as directed in section 1647-4.5. It is preferable that expenditures for replacements be made directly from the reserve fund, but they may also be made from the administration fund, in which case the administration fund shall be reimbursed not later than the end of the quarter in which the expenditure was made. The segregation and investment of the reserve are discussed in Subpart 1647-5, to which reference should be made.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 1647-4.8