N.Y. Comp. Codes R. & Regs. tit. 12, § 358-2.1 – Plans which were not in existence April 13, 1949.

(a) the benefits are to be provided under the plan for a fixed term; the acceptable period of such a plan shall be such term; or
(b) the employer has filed with the chairman the required agreements and otherwise complied with section 358-3.4 of this Part; the acceptable period of such a plan shall be limited to the period provided in section 358-3.4(c) of this Part.

Any plan which was not in existence on April 13, 1949, but which is in existence on or after July 1, 1950, is a new plan and, if the benefits provided meet the requirements of section 358-3.1 of this Part, may be accepted by the chairman under section 211 of the Workers' Compensation Law provided: