Notice of intention to withdraw from the plan shall be given to the president and to the employer's employees at least 60 days in advance of the last date for which coverage will be provided. An employer who withdraws or is expelled from the plan shall not be eligible to rejoin the plan for one year thereafter unless, in the exercise of the president's discretion, for good cause shown, such period is reduced or waived.
N.Y. Comp. Codes R. & Regs. Tit. 4 § 74.9