§ 88-b. Coverage of employees in state-supported educational institutions. Compensations payable under this chapter to employees of state colleges, schools and experiment stations, administered by Cornell university, Syracuse university and Alfred university shall be paid from the state insurance fund, and all payments to the state insurance fund for insurance premiums on account of such employees including a proportionate share of the administrative expense of the state insurance fund on account thereof shall be paid out of the general fund of the state treasury from moneys deposited to the credit of the public services fund therein.

The payroll records of the employees so covered shall be established and segregated with the approval of the director of the budget.