(b) For good cause shown, the superintendent may grant reasonable
extensions of time for doing any act required by this article.
(c) (1) The trustees of any employee welfare fund which has its
principal place of business without the state shall, within ten days
after registering a fund with the superintendent, file with the
secretary of state a designation, subscribed by them and affirmed as
true under the penalties of perjury, irrevocably appointing the
secretary of state as their agent upon whom may be served any process
directed to such trustees, in any action or proceeding brought pursuant
to the provisions of this article arising out of or in connection with
any transaction, matter or thing relating to such fund. If the trustees
fail to make such designation in the prescribed time and manner they
shall be deemed to have irrevocably appointed the secretary of state as
such agent.
(2) Service shall be made by serving the secretary of state with a
copy of the process and shall be sufficient provided that notice of the
service and a copy of the process are sent by the moving party within
ten days of the service to the trustees at the office address of the
fund, by registered mail with return receipt requested.
(3) In any examination or hearing instituted by the superintendent,
service of such process shall be complete ten days after the receipt by
the superintendent of a return receipt purporting to be signed by the
trustees or their agent or agents in accordance with the rules and
customs of the United States postal service, or if acceptance was
refused by the trustees or their agents, the original envelope bearing a
notation by the postal authorities that receipt was refused.
(4) In any action or proceeding instituted in any court in this state,
the moving party shall file with the court in which such action or
proceeding is pending an affidavit of compliance herewith, a copy of the
process, and either the return receipt or the original envelope bearing
a notation of refusal, within thirty days after the return receipt or
original envelope is received by the moving party, at which time service
of process shall be complete.
(5) Service of any process made in accordance with this subsection
shall be deemed to have been made personally within the state and, in
the case of a court action or proceeding, within the territorial
jurisdiction of the court from which such process issued.
(d) The trustees of every employee welfare fund shall preserve all its
records of final entry and all reports and statements required by this
article and the regulations issued under it for a period of at least six
years from the date of making the same. Preservation of photographic
reproduction of records or records in photographic form shall constitute
compliance with this subsection.
(e) Subject to the restrictions of this article, any employee welfare
fund may lend money to any employees covered by such fund or their
children, who are attending or planning to attend college, to assist
them in meeting their expenses of higher education and where the loans
are guaranteed by the New York higher education services corporation in
accordance with the provisions of article fourteen of the education law.
In such cases no further security for the repayment of such loans shall
be required of the borrowers by such fund.
(f) Nothing in this article shall be construed to relieve the trustees
of any employee welfare fund from compliance with any other provision of
this chapter or any other applicable laws of this state.