Section 25-B. Awards to non-residents: Non-resident compensation fund

1.
  There is  hereby  created  a  fund  to  be  known  as  the  non-resident
  compensation  fund.  Whenever  an award is made to or on behalf of alien
  dependents, non-residents of the United States, Canada or  Newfoundland,
  or  an  award  is  made  to a non-resident citizen of the United States,
  which calls for the payment of compensation or death benefits, or  where
  there is outstanding an unpaid balance of compensation or death benefits
  payable  to  such  non-resident,  and it shall appear that the person or
  persons to whom the award has been made or any balance of such award  is
  payable,  would not have the full benefit or use or control of the money
  payable under such award, or where other special circumstances  made  it
  desirable  that  present  payment  of  the  award shall be withheld, the
  employer, or if insured, his insurance  carrier,  or  any  special  fund
  liable  for such payment, may, by order of the board, be required to pay
  to the comptroller of the state of New York  all  amounts  then  due  or
  thereafter  to  become  due  under  the  terms  of  the  award  to  such
  non-resident. The moneys so paid in shall be held by the comptroller  in
  the non-residents compensation fund.
    2.  All computations for the commutation of any such award for payment
  into the said fund shall be made in accordance with the tables specified
  in section twenty-seven of this chapter.
    3. The payment of the amount of any such award into  the  non-resident
  compensation  fund shall constitute a complete discharge of the employer
  or insurance carrier from all liability for such award.
    4. If at any time there shall be created by any act of the congress of
  the United States or by any lawful rule or regulation of  the  president
  any agency or fund for the safekeeping or custody of moneys belonging to
  or  payable  to  any  non-resident  alien, and if such act or rule shall
  require the payment into such agency or fund of any  moneys  theretofore
  paid  into  the  fund  for  foreign  dependents,  the board may make its
  findings and issue its order thereon  directing  the  transfer  of  such
  moneys by the comptroller to such other agency or fund.
    5.  Any moneys so paid into such fund shall be held by the comptroller
  until the further order of the board. Whenever the board shall find that
  the reasons and conditions which made it desirable that payment into the
  fund be made have changed and that the cause for such withholding  shall
  no longer exist, the board may make findings and issue its order thereon
  directing  the payment without interest of the whole or any part thereof
  then due by the comptroller to the person or persons for  whose  benefit
  the award was made.
    6.  If  the  board,  at any time, upon evidence presented to it, shall
  find that all or any part of the funds so deposited in such fund are not
  due and  payable  to  the  non-resident  for  whose  benefit  they  were
  deposited,  it  shall  direct the repayment of such amount so deposited,
  without interest, by the comptroller to the party required to  make  the
  deposit as aforesaid.
    7.  If  no  evidence  shall  be  presented to the board of the present
  existence of any such non-resident within eight years from the date when
  the board has found that the precedent conditions set forth in paragraph
  one hereof have changed and that direct payments could be made  to  such
  person  or  persons  if  such  person  or persons are alive, it shall be
  presumed in the absence of substantial evidence to  the  contrary,  that
  such  person  or  persons are non-existent and the board shall thereupon
  order the payment without interest  of  the  amount  deposited  for  the
  benefit  of  such  person  or persons to the party required to make such
  deposit as aforesaid, provided however, that thereafter  such  employer,
  carrier or fund receiving such repayment shall continue to be liable for

  any   compensation   subsequently   found   by  the  board  to  be  due,
  notwithstanding any other provisions of this chapter.