§488-3 Certificate of authority; authority issued or denied; plan termination. (a) Before conducting business in this State, a plan shall submit for approval with the commissioner an application for a certificate of authority, shall file documentation with the commissioner, and shall pay to the commissioner a fee as provided under section 431:7-101.
(b) The documentation required by subsection (a) shall contain in writing the following:
Any amendments or changes to the documents filed under paragraphs (1) to (8) shall be filed with the commissioner for approval at least sixty days before they take effect. All documents filed under this section shall be public documents.
(c) If the commissioner finds that a plan has met the requirements of this section, the commissioner shall issue to it a proper certificate of authority.
(d) If the commissioner finds that a plan has not met the requirements of this section, the commissioner shall deny the plan a certificate of authority within a reasonable length of time following filing of the application by the plan.
(e) If the plan is canceled or otherwise terminated by the group, the plan administrator, or the persons furnishing legal services, the plan shall notify the commissioner in writing at least sixty days prior to the termination of the plan of the fact of plan termination and the provisions made for the disposition of funds accumulated under the plan. [L 1976, c 156, pt of §1; gen ch 1985; am L 2010, c 47, §1(3); am L 2011, c 186, §5]