§ 219-p. Administration. 1. Service award programs shall be centrally\nadministered by the state comptroller, or the comptroller may enter into\none or more of the following contracts:\n (a) a contract with an administrative service agency or financial\norganization to serve as program administrator and to perform all or any\nportion of the functions required to establish and administer such\nprograms including, but not limited to, preparation of a plan document,\nrecord keeping, reporting, payment of service awards, and having custody\nof program moneys and assets;\n (b) contracts with one or more financial organizations to invest\nprogram moneys; or\n (c) a contract with an actuary for the performance of all actuarial\ncalculations required by the program.\nIf the comptroller contracts for the performance of any function as\nprovided in this subdivision, the comptroller shall be liable only for\nthe exercise of due care in the selection of the administrative service\nagency, financial organization or actuary performing the function.\n 2. The state comptroller shall promulgate rules and regulations, as\nappropriate, for the service award programs. Such rules shall include,\nbut not be limited to, standards for the selection of service providers,\nthe method and timing of the payments required to be made by the\nsponsor, reporting requirements, matters relating to the preparation of\na plan document, and any other matter relating to the service award\nprograms.\n 3. (a) The state comptroller, or an administrative service agency or\nfinancial organization serving as program administrator, shall prepare\nand may amend a single plan document setting forth the obligations of\nsponsors, the rights of the volunteer ambulance workers, and standards\nand procedures for the administration of all service award programs. The\nplan document and any amendments thereto shall be consistent with the\nprovisions of this article, the rules and regulations promulgated by the\ncomptroller and any amendments thereto. If the plan document or any\namendment thereto is prepared by an administrative service agency or\nfinancial organization, it shall not take effect until approved by the\ncomptroller.\n (b) The program administrator shall cause a summary of the plan\ndocument to be provided to each participant within six months from the\ndate that program participation commences. The program administrator\nshall also cause a summary of any material amendment of the plan\ndocument to be provided to each participant within six months of the\ndate the amendment takes effect.\n (c) The plan document and the summary of the plan document shall be\nmade available for public inspection and copying.\n 4. All program assets shall be held in trust for the exclusive purpose\nof providing service awards to participants and their beneficiaries or\nfor the purpose of defraying the reasonable expenses of the operation\nand administration of the program. The trust shall be established and\nmay be amended by the state comptroller. The comptroller may designate\nhim or herself, an administrative service agency or a financial\norganization as trustee, and may substitute trustees. If the service\naward programs and the trust are not tax qualified within the meaning of\nsection 401 and 501 of the Internal Revenue Code of 1954 (68A Stat. 3.26\nU.S.C. 401 and 501), the trust may provide that assets apportioned to an\nindividual sponsor may be subject to the claims of general creditors, if\nany, of the sponsor or may contain such other terms and provisions as\nare necessary to ensure that participation in a service award program\ndoes not result in taxable income under any provision of the Internal\nRevenue Code of 1986, as amended.\n 5. There is hereby established in the custody of the state comptroller\na special fund to be known as the volunteer ambulance service award\nfund. Such fund shall consist of any money of service award programs\nheld by the comptroller.
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