N.Y. Workers' Compensation Law Section 81
Offices, lands, leaseholds and buildings

The commissioners, any law to the contrary notwithstanding, (a) may lease, sub-lease, rent or otherwise hire, on behalf of and in the sole name of the state insurance fund and under such terms and conditions and for such period or periods not in excess of ninety-nine years as in the judgment of the commissioners may seem to the best interests of the fund, suitable premises in the city of New York and in the city of Albany, and maintain offices therein, and may in the same manner establish and maintain other offices at such places in the state as may be required to properly and conveniently transact the business of the fund and (b) the commissioners may in the name of the state insurance fund, subject to the approval of the superintendent of financial services as provided in § 87 (Investment of surplus or reserve)section eighty-seven of this article, out of its surplus, (1) acquire by purchase or acquire by gift or devise and hold and convey land with or without buildings or improvements thereon, or acquire by purchase, sub-lease, assignment, transfer, gift, devise or in any other manner and hold and convey any lease, sub-lease or leasehold of real property and for any term of years not in excess of ninety-nine years, and

(2)

construct a new building or buildings on such land or leasehold or reconstruct or operate and maintain existing buildings, as the case may be, with facilities and appurtenances to provide suitable office space for the convenient transaction of the business of the state insurance fund; and

(c)

notwithstanding the provisions of any general, special or local law, the commissioners are authorized to rent any available space in such premises, buildings or property not required by the state insurance fund to private tenants or to public agencies, with or without leases, upon such terms and rentals as the commissioners deem to be for the best interests of the state insurance fund. The commissioners may manage and operate such properties or leaseholds either by forces and equipment of the fund or, with the approval of the director of the budget, by contracting for the management and operation of such properties or leaseholds with any person, firm or corporation that they shall select and that is engaged in such business but no such contract shall be made for a period in excess of five years, or by a combination of such methods. The commissioners may, from time to time, enter into agreements modifying any lease or leasehold made or acquired as above provided. The obligation of the state insurance fund or any lease made, modified or acquired or on any contract entered into pursuant to this section shall not be limited by any provisions of section eighty-eight of this article or of section one hundred sixty-one-a of the state finance law. The commissioners may sue and be sued in the name of the state insurance fund in any form of action or proceeding on all matters relating to ownership, management, operation and control of any such land and buildings or leaseholds and on all matters relating to its rights and obligations under any lease, sub-lease, renting or hiring of any such land and buildings and to its possession thereof and removal therefrom.

Source: Section 81 — Offices, lands, leaseholds and buildings, https://www.­nysenate.­gov/legislation/laws/WKC/81 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

76
Creation of state fund 77
Administration 78
Salaries and expenses 79
Meetings 80
Seal 81
Offices, lands, leaseholds and buildings 82
Powers and duties 83
Rules 84
General attorney 85
Commissioner of taxation and finance custodian of fund 86
Catastrophe surplus and reserves for workers’ compensation 86‑A
Catastrophe surplus and reserves for disability benefits 87
Investment of surplus or reserve 87‑A
Investment in obligations of the municipal assistance corporation for the city of New York 87‑B
Investments in obligations of the city of Yonkers 87‑BB
Investments in obligations of the city of Yonkers 87‑C
Investments in obligations of designated public benefit corporations 87‑D
Contractual obligations as evidence of indebtedness upon reimbursement of reserves 87‑E
Amortization of gains or losses 87‑F
Appropriations to the state insurance fund 87‑G
Advances to the urban development corporation 87‑H
Investments of the state insurance fund 87‑I
New York state insurance fund MWBE asset management and financial institution strategy 88
Administration expenses 88*2
Administration expenses 88‑A
Payments from special or administrative funds 88‑B
Coverage of employees in state-supported educational institutions 88‑C
Coverage of state employees 89
Rates for workers’ compensation 90
Dividends 91
Groups for accident prevention 92
Payment of premiums 93
Collection of premium in case of default 94
Withdrawal from fund 95
Record and audit of payrolls 96
Penalties for fraudulent practices 97
Inspections 98
Disclosures prohibited 99
Reports of state insurance fund 100
Insurance against liability to volunteer firefighters and ambulance workers
Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 81’s source at nysenate​.gov

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