New York Consolidated Laws, Navigation Law - NAV § 189. Awards exceeding current balance

In the event that the total awards for a specific occurrence exceed the current balance of the fund, the immediate award shall be paid on a prorated basis, and all claimants paid on a prorated basis shall be paid as determined by the administrator, a pro rata share of all moneys received by the fund until the total amount of the proven damages is paid to the claimant or claimants.  The administrator may also provide through regulation to fix the priority for the payment of claims based on extreme hardship.