McKay v. Stewart

Memorandum.

The vacation plans at issue, resulting from agreements between employers and unions, are reasonably within the scope of article III-A of the Insurance Law requir*565ing registration with the Superintendent of Insurance and examination and reports respecting the plans as “ employees’ welfare funds ”.

Such a fund is defined as a means of providing “ employee benefits, by the purchase of insurance or annuity contracts or otherwise This plainly means a fund not established through insurance or annuity contracts as well as funds established by these means; and hence it means a fund…