§ 4413. Prohibitions. (a) The trustees of every employee welfare fund\nshall be responsible in a fiduciary capacity for all assets received,\nmanaged or disbursed by them, or under their authority, on behalf of\nsuch fund.\n (b) (1) No such fund and no employer or labor organization\nrepresenting any employees eligible for employee benefits thereunder,\nand no trustee or other officer or employee of any such fund, employer\nor labor organization shall receive, directly or indirectly, any thing\nof value from any insurance company, insurance agent, insurance broker\nor any hospital, surgical, dental or medical service plan, in connection\nwith the solicitation, sale, service or administration of a contract\nproviding employee benefits for such fund. No such employer, labor\norganization, trustee, officer or employee shall receive any thing of\nvalue from such fund, or which is charged against such fund or would\notherwise be payable to such fund, either directly or indirectly, except\nthat any such person may receive any employee benefits to which he is\notherwise entitled, and any such trustee or other officer or employee of\na fund, may receive from such fund reasonable compensation for necessary\nservices and expenses rendered or incurred by him in connection with his\nofficial duties as such. Nothing in this subsection shall affect the\npayment of any dividend or rate credit or other adjustment due under the\nterms of any insurance or annuity contract.\n (2) No insurance company, insurance agent or insurance broker,\nhospital, surgical, dental or medical service plan, shall directly or\nindirectly, pay any commission, make any loan or give any thing of value\nto any employee welfare fund or to any employer or labor organization\nrepresenting any employees eligible for employee benefits thereunder or\nto any trustee or other officer or employee of any such fund, employer\nor labor organization, in connection with the solicitation, sale,\nservice or administration of a contract providing employee benefits for\nsuch fund.\n (3) The superintendent may, after notice and a hearing, prohibit the\ntrustees of an employee welfare fund from employing or retaining or\ncontinuing to employ or retain any person upon finding that such\nemployment or retention involves a conflict of interest which is not in\nthe best interests of the fund or adversely affects the interests of\ncovered employees.\n (4) The superintendent may, by regulation or order, and upon such\nterms and conditions as he requires, authorize or approve any\ntransaction or transactions otherwise prohibited by this subsection upon\nhis finding that the transaction or transactions promote or will promote\nthe best interests of the relevant employee welfare funds, and do not or\nwill not adversely affect the interests of the covered employees.\n (c) (1) No person who has been convicted by a court of the United\nStates or by a court of any state or territory thereof of a felony, or\nof any crime or offense involving fraudulent or dishonest practices,\nshall serve, be appointed, designated or employed as a trustee,\nadministrator, officer, agent or employee of any employee welfare fund\n(other than an employee performing non-discretionary clerical or\nbuilding maintenance duties exclusively) during or for five years after\nsuch conviction or the suspension of sentence therefor or from the date\nof his unrevoked release from custody by parole, commutation or\ntermination of sentence, whichever event occurs later, unless prior to\nthe expiration of said five year period the conviction is finally\nreversed by a court of competent jurisdiction or he has been pardoned\ntherefor by the governor or other appropriate authority of the state or\njurisdiction in which he was convicted or he has received a certificate\nof relief from disabilities or a certificate of good conduct pursuant to\nthe provisions of article twenty-three of the correction law which\nspecifically removes the
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