Section 160-GGG. Plan of operation

1.  Within seventy-five days of the
  appointment of the fund's board of directors, the fund shall  file  with
  the workers' compensation board and local taxi and limousine commissions
  its  plan  of  operation,  which  shall  be designed to assure the fair,
  reasonable and  equitable  administration  of  the  fund.  The  plan  of
  operation  and  any subsequent amendments thereto shall become effective
  upon being filed with the workers' compensation board and all  taxi  and
  limousine commissions.
    2.  The plan of operation shall constitute the by-laws of the fund and
  shall, in addition to the  requirements  enumerated  elsewhere  in  this
  article:
    (a) establish procedures for collecting and managing the assets of the
  fund;
    (b)  establish  regular  places  and  times for meetings of the fund's
  board of directors;
    (c)  establish  accounting  and  record-keeping  procedures  for   all
  financial  transactions  of  the  fund,  its  agents  and  the  board of
  directors;
    (d)  establish  a  procedure  for  determining  and   collecting   the
  appropriate amount of assessments under this article; and
    (e)  contain  such  additional provisions as the board of directors of
  the fund may deem necessary or proper for the execution  of  the  powers
  and duties of the fund.