§ 75. Transition provisions. 1. Existing plans continued.

a. Notwithstanding the effective date of this article, plans heretofore established pursuant to former subdivision three-a of section fifty of this chapter and not abandoned pursuant to the provisions of section sixty-one of this chapter, shall continue to operate subject to the provisions of such subdivision through December thirty-first, nineteen hundred fifty-six, with the same force and effect as if such subdivision had not been repealed; provided, however, that no apportionment shall be made thereunder during the year nineteen hundred fifty-six, and provided further, that unless a committee or administrator is appointed pursuant to the provisions of section sixty-four of this chapter prior to August first, nineteen hundred fifty-six, the committee managing the plan pursuant to former subdivision three-a of section fifty of this chapter shall prepare the estimate and make the apportionments provided for in paragraph b of this subdivision.

b. The committee or administrator shall, during the month of August, nineteen hundred fifty-six, prepare an estimate of the several amounts necessary for the operation of the plan under this article for the year nineteen hundred fifty-seven as provided in section sixty-seven of this chapter, except that such estimate shall not provide for the repayment of any advances made by the county. The committee or administrator shall then determine the share of such amounts chargeable to each participant in the manner prescribed by section sixty-six of this chapter. The amounts so apportioned shall be collected in the same manner and at the same time as provided in section sixty-seven of this chapter.

c. Except in the county of Wayne, the committee or administrator shall, during the month of January, nineteen hundred fifty-seven, determine the total amount due the county for advances made to the plan prior to January first, nineteen hundred fifty-seven. All moneys of the plan as of December thirty-first, nineteen hundred fifty-six, shall be applied to the repayment of all such advances. If such moneys shall be insufficient for such purpose, such an amount as may be necessary to repay the balance of such advances shall be apportioned to each participant in the plan as of such date in the manner provided in former subdivision three-a of section fifty of this chapter. Each such participant shall be notified in writing not later than the fifteenth day of February, nineteen hundred fifty-seven, of the amount so apportioned as such participant's share. Each such participant shall pay the county treasurer such amount by October first, nineteen hundred fifty-seven. If not paid on or before such date, such amount shall be recovered by an action brought by the county or such amount shall be collected by inclusion in the next succeeding tax levy, if any, against property taxable by the participant responsible therefor. Any such participant may provide all or part of such amount by the issuance of bonds or capital notes pursuant to the local finance law. All repayments of advances shall be credited by the county treasurer to the fund from which such advances were made.

d. Any moneys of the plan as of December thirty-first, nineteen hundred fifty-six, remaining after the repayment of all advances as provided in paragraph c of this subdivision, shall be applied to the payment of liabilities or may be credited to a reserve established pursuant to section sixty-nine of this chapter.

2. Existing plans abandoned. a. Notwithstanding the effective date of this article, plans heretofore established pursuant to former subdivision three-a of section fifty of this chapter which are deemed abandoned under the provisions of section sixty-one of this chapter, shall continue to operate subject to the provisions of such former subdivision through October thirty-first, nineteen hundred fifty-six, with the same force and effect as if such former subdivision had not been repealed; provided, however, that a committee appointed as provided in such former subdivision shall continue in existence until such time as all joint liabilities of the participants have been satisfied.

b. During the month of November nineteen hundred fifty-six, such committee shall determine (1) the amount necessary to repay all advances from the county and (2) the amount, actuarially computed, necessary to satisfy all outstanding joint liabilities of the participants. The committee shall then determine the share of such amounts chargeable to each participant in the plan in the manner prescribed by former subdivision three-a of section fifty of this chapter. The amounts so apportioned shall be collected in the same manner and at the same time as provided in such former subdivision. All moneys collected pursuant to this subdivision, after the repayment of advances, shall be accounted for by the county treasurer in the workmen's compensation mutual fund. Disbursements from such fund shall be made upon the order of the committee.

c. If at any time thereafter there shall be insufficient funds to meet such liabilities, the committee shall in like manner apportion and cause to be collected from each participant in the plan as of the date of abandonment, the amount necessary to satisfy such liabilities. The equalized valuations used as a basis for any such apportionment shall be those existing as of the date of abandonment.