Section 4414. Supplementary regulations; extensions of time; service of process; records; loans; compliance

(a)  The  superintendent  may  from  time  to time promulgate appropriate supplementary rules and regulations
  to carry out the express provisions and purposes of this article.
    (b) For good cause shown,  the  superintendent  may  grant  reasonable
  extensions of time for doing any act required by this article.
    (c)  (1)  The  trustees  of  any  employee  welfare fund which has its
  principal place of business without the state  shall,  within  ten  days
  after  registering  a  fund  with  the  superintendent,  file  with  the
  secretary of state a designation, subscribed by  them  and  affirmed  as
  true   under  the  penalties  of  perjury,  irrevocably  appointing  the
  secretary of state as their agent upon whom may be  served  any  process
  directed  to such trustees, in any action or proceeding brought pursuant
  to the provisions of this article arising out of or in  connection  with
  any  transaction, matter or thing relating to such fund. If the trustees
  fail to make such designation in the prescribed  time  and  manner  they
  shall  be deemed to have irrevocably appointed the secretary of state as
  such agent.
    (2) Service shall be made by serving the secretary  of  state  with  a
  copy  of the process and shall be sufficient provided that notice of the
  service and a copy of the process are sent by the  moving  party  within
  ten  days  of  the  service to the trustees at the office address of the
  fund, by registered mail with return receipt requested.
    (3) In any examination or hearing instituted  by  the  superintendent,
  service  of such process shall be complete ten days after the receipt by
  the superintendent of a return receipt purporting to be  signed  by  the
  trustees  or  their  agent  or  agents  in accordance with the rules and
  customs of the United  States  postal  service,  or  if  acceptance  was
  refused by the trustees or their agents, the original envelope bearing a
  notation by the postal authorities that receipt was refused.
    (4) In any action or proceeding instituted in any court in this state,
  the  moving  party  shall  file  with  the court in which such action or
  proceeding is pending an affidavit of compliance herewith, a copy of the
  process, and either the return receipt or the original envelope  bearing
  a  notation  of  refusal, within thirty days after the return receipt or
  original envelope is received by the moving party, at which time service
  of process shall be complete.
    (5) Service of any process made in  accordance  with  this  subsection
  shall  be  deemed  to have been made personally within the state and, in
  the case of  a  court  action  or  proceeding,  within  the  territorial
  jurisdiction of the court from which such process issued.
    (d) The trustees of every employee welfare fund shall preserve all its
  records  of  final entry and all reports and statements required by this
  article and the regulations issued under it for a period of at least six
  years from the date of making the  same.  Preservation  of  photographic
  reproduction of records or records in photographic form shall constitute
  compliance with this subsection.
    (e)  Subject to the restrictions of this article, any employee welfare
  fund may lend money to any employees  covered  by  such  fund  or  their
  children,  who  are  attending  or planning to attend college, to assist
  them in meeting their expenses of higher education and where  the  loans
  are  guaranteed by the New York higher education services corporation in
  accordance with the provisions of article fourteen of the education law.
  In such cases no further security for the repayment of such loans  shall
  be required of the borrowers by such fund.
    (f) Nothing in this article shall be construed to relieve the trustees
  of any employee welfare fund from compliance with any other provision of
  this chapter or any other applicable laws of this state.