Section 75. Transition provisions

1. Existing plans continued.
    a.   Notwithstanding   the  effective  date  of  this  article,  plans
  heretofore established pursuant to former subdivision three-a of section
  fifty of this chapter and not abandoned pursuant to  the  provisions  of
  section  sixty-one of this chapter, shall continue to operate subject to
  the  provisions  of  such  subdivision  through  December  thirty-first,
  nineteen  hundred  fifty-six,  with the same force and effect as if such
  subdivision  had  not  been  repealed;  provided,   however,   that   no
  apportionment  shall be made thereunder during the year nineteen hundred
  fifty-six,  and  provided  further,   that   unless   a   committee   or
  administrator  is  appointed  pursuant  to  the  provisions  of  section
  sixty-four of this chapter  prior  to  August  first,  nineteen  hundred
  fifty-six,   the   committee   managing  the  plan  pursuant  to  former
  subdivision three-a of section fifty of this chapter shall  prepare  the
  estimate and make the apportionments provided for in paragraph b of this
  subdivision.
    b.  The  committee or administrator shall, during the month of August,
  nineteen hundred fifty-six, prepare an estimate of the  several  amounts
  necessary  for the operation of the plan under this article for the year
  nineteen hundred fifty-seven as provided in section sixty-seven of  this
  chapter,  except  that such estimate shall not provide for the repayment
  of any advances made by the county. The committee or administrator shall
  then determine the share of such amounts chargeable to each  participant
  in  the  manner  prescribed  by  section  sixty-six of this chapter. The
  amounts so apportioned shall be collected in the same manner and at  the
  same time as provided in section sixty-seven of this chapter.
    c.  Except  in  the  county  of  Wayne, the committee or administrator
  shall, during  the  month  of  January,  nineteen  hundred  fifty-seven,
  determine  the total amount due the county for advances made to the plan
  prior to January first, nineteen hundred fifty-seven. All moneys of  the
  plan  as  of December thirty-first, nineteen hundred fifty-six, shall be
  applied to the repayment of all such advances. If such moneys  shall  be
  insufficient  for  such  purpose,  such an amount as may be necessary to
  repay the  balance  of  such  advances  shall  be  apportioned  to  each
  participant in the plan as of such date in the manner provided in former
  subdivision  three-a  of  section  fifty  of  this  chapter.  Each  such
  participant shall be notified in writing not later  than  the  fifteenth
  day  of  February,  nineteen  hundred  fifty-seven,  of  the  amount  so
  apportioned as such participant's share. Each such participant shall pay
  the county treasurer such amount  by  October  first,  nineteen  hundred
  fifty-seven.  If  not  paid on or before such date, such amount shall be
  recovered by an action brought by the county or  such  amount  shall  be
  collected  by inclusion in the next succeeding tax levy, if any, against
  property taxable by the participant  responsible  therefor.    Any  such
  participant  may  provide  all or part of such amount by the issuance of
  bonds or  capital  notes  pursuant  to  the  local  finance  law.    All
  repayments  of advances shall be credited by the county treasurer to the
  fund from which such advances were made.
    d. Any moneys of  the  plan  as  of  December  thirty-first,  nineteen
  hundred  fifty-six,  remaining  after  the  repayment of all advances as
  provided in paragraph c of this subdivision, shall  be  applied  to  the
  payment  of  liabilities  or  may  be  credited to a reserve established
  pursuant to section sixty-nine of this chapter.
    2. Existing plans abandoned. a. Notwithstanding the effective date  of
  this   article,   plans   heretofore   established  pursuant  to  former
  subdivision three-a of section fifty of this chapter  which  are  deemed
  abandoned  under  the  provisions  of section sixty-one of this chapter,
  shall continue to operate subject  to  the  provisions  of  such  former

  subdivision  through  October  thirty-first, nineteen hundred fifty-six,
  with the same force and effect as if such  former  subdivision  had  not
  been repealed; provided, however, that a committee appointed as provided
  in  such  former subdivision shall continue in existence until such time
  as all joint liabilities of the participants have been satisfied.
    b. During the month  of  November  nineteen  hundred  fifty-six,  such
  committee shall determine (1) the amount necessary to repay all advances
  from  the  county and (2) the amount, actuarially computed, necessary to
  satisfy all outstanding  joint  liabilities  of  the  participants.  The
  committee  shall  then determine the share of such amounts chargeable to
  each participant  in  the  plan  in  the  manner  prescribed  by  former
  subdivision  three-a  of  section  fifty of this chapter. The amounts so
  apportioned shall be collected in the same manner and at the  same  time
  as  provided  in such former subdivision.  All moneys collected pursuant
  to this subdivision, after the repayment of advances, shall be accounted
  for by the county treasurer in the workmen's compensation  mutual  fund.
  Disbursements  from  such  fund  shall  be  made  upon  the order of the
  committee.
    c. If at any time thereafter there shall be insufficient funds to meet
  such liabilities, the committee shall in like manner apportion and cause
  to be collected from each participant in the plan  as  of  the  date  of
  abandonment,  the  amount  necessary  to satisfy such liabilities.   The
  equalized valuations used as a basis for any such apportionment shall be
  those existing as of the date of abandonment.