Section 138A. Deductions on pay-roll schedules may be made from the salary of any state, county or municipal employee of any amount which such employee may specify in writing to any state, county or municipal officer, or the head of the state, county, or municipal department, board or commission, by whom or which he is employed, for the payment of premiums on a group life policy issued under section one hundred and thirty-three to an association of state, county or municipal employees and insuring such employee as a member thereof. Any such authorization may be withdrawn by the employee by giving at least sixty days' notice in writing of such withdrawal to the state, county or municipal officer, or the head of the state, county or municipal department, board or commission, by whom or which he is then employed and by filing a copy thereof with the treasurer of the association.

The state treasurer, the common paymaster, as defined in said section one hundred and thirty-three, or the treasurer of the county or municipality by which such employee is employed, shall deduct from the salary of such employee such amount of insurance premiums as may be certified to him on the pay-roll, and transmit the sum so deducted to the treasurer of said association for transmittal to the company, which issued the policy; provided, that the state treasurer, the state comptroller or the county or municipal treasurer, as the case may be, is satisfied by such evidence as he may require that the treasurer of such association has given to said association a bond, in a form approved by the commissioner, for the faithful performance of his duties, in a sum and with such surety or sureties as are satisfactory to the state treasurer or comptroller or county or municipal treasurer.