N.J.S.A. 17B:27C-3 — Definitions relative to self-funded multiple employer welfare arrangements.

17B:27C-3 Definitions relative to self-funded multiple employer welfare arrangements. 3. For purposes of this act: "Association" means a group of 100 or more persons organized and maintained in good faith for purposes other than that of obtaining insurance, in active existence for more than one year, having a constitution and bylaws that provide that: the association holds regular meetings not less than annually to further the purposes of the members; except for credit unions, the association collects dues or solicits contributions from members; and the members have voting privileges and representation on the governing board and committees. "Commissioner" means the Commissioner of Banking and Insurance. "Employee welfare benefit plan" has the meaning set forth in subsection (1) of 29 U.S.C. s.1002. "Large employer" means a member employer with more than 50 eligible employees, as defined by section 1 of P.L.1992, c.162 (C.17B:27A-17). "Multiple employer welfare arrangement" has the meaning set forth in subsection (40) of 29 U.S.C. s.1002. "Self-funded multiple employer welfare arrangement" means a self-funded or partially self-funded multiple employer welfare arrangement that provides for health benefits plans that has two or more employers who each have two or more employees and that has one or more of the employer members either domiciled in this State or its principal headquarters or principal administrative office located in this State. "Small employer" means the same as defined in section 1 of P.L.1992, c.162 (C.17B:27A-17). L.2001, c.352, s.3; amended 2015, c. 172, s.1.

This is the verbatim text of N.J.S.A. 17B:27C-3, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.