§ 160-ii. Securing of compensation. 1. Within two hundred ten days of the effective date of this article, the fund shall secure the payment of workers' compensation to all black car operators entitled thereto pursuant to this chapter by either: (a) self-insuring in accordance with subdivision three of section fifty of the workers' compensation law and the rules promulgated by the board pursuant to such section or (b) purchasing workers' compensation insurance covering, on a blanket basis, all black car operators who are the fund's employees pursuant to section two of the workers' compensation law.

2. If the fund initially seeks to apply to the board for authorization to self-insure pursuant to subdivision three of section fifty of the workers' compensation law, it shall submit its application and accompanying proof to the board within one hundred fifty days of the effective date of this article. The board shall notify the fund and the secretary in writing of any change in the fund's status as a self-insurer or of any additional requirements that the board may deem necessary for continuation of such status.

3. If the fund chooses to secure the payment of workers' compensation pursuant to the workers' compensation law by purchasing an insurance policy from the state insurance fund or a, licensed insurer, it shall file with the department no later than thirty days after the commencement of a new policy year a copy of the policy it has purchased. In such case, the department shall be treated by the insurer as a certificate holder for purposes of receiving notice of cancellation of the policy.

4. No provision of this article shall be construed to alter or affect the liability under the workers' compensation law of any central dispatch facility with respect to black car operators prior to the fund liability date.