N.J. Admin. Code § 11:24-2.10

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:24-2.10 - Surrender of a certificate of authority

(a) Except as the Holding Company Systems Act, N.J.S.A. 17:27A-1 et seq. and rules promulgated pursuant thereto may apply and require otherwise, in the event that an HMO voluntarily ceases operation, it shall provide at least 90 business days advance notice to all members, employers, providers and the Department. The notice shall identify the storage location of medical records, where applicable, and procedures for obtaining copies of such records.

(b) Every HMO intending to surrender a certificate of authority shall provide a plan at least 90 business days in advance of the surrender to the Department to assure continuity of coverage and medical care and assistance to members, as necessary, in accordance with N.J.A.C. 11:24-12.2.

(c) Except as the Holding Company Systems Act, N.J.S.A. 17:27A-1 et seq. and rules promulgated pursuant thereto may apply and require otherwise, when the surrender is due to an acquisition or merger, the certificate of authority shall remain active and obligations of the surrendering HMO shall remain in effect until the termination notices and requirements of the IHC and SEH programs are met and all liabilities of the HMO surrendering its certificate of authority are assumed by the surviving entity, or are otherwise extinguished.

N.J. Admin. Code § 11:24-2.10

Amended by R.2000 d.183, effective 5/1/2000.
See: 31 N.J.R. 953(a), 32 N.J.R. 1544(a).
In (b), changed N.J.A.C. reference; and added (c).
Amended by R.2002 d.265, effective 8/19/2002.
See: 34 N.J.R. 885(a), 34 N.J.R. 3014(a).
Rewrote the section.