N.J. Admin. Code § 12:18-2.14 - Withdrawal of certificate of approval
(a) A certificate
of approval may be withdrawn or revoked upon notice and opportunity for hearing
if the Division finds:
1. That there is danger
that benefits accrued or to accrue will not be paid; or
2. That the security for such payment is
insufficient; or
3. That there has
been a failure to comply with the terms and conditions of the plan;
or
4. That there has been a failure
to pay benefits to eligible claimants promptly; or
5. That in the case of an insured private
plan, the insurance company has given notice of the cancellation of the policy
of insurance thereunder; or
6. That
the employer, his or her duly authorized agent, the union or association
representing the employees or any person acting in behalf of any of the
foregoing are deriving a profit in instituting or administering the plan;
or
7. That the employer, or insurer
or any other party responsible for the payment of benefits, as the case may be,
has failed to comply with the Act and regulations; or
8. Other good cause.
(b) A certificate of approval may be
withdrawn or revoked effective as of the date of the occurrence of the
condition, violation, event or omission forming the basis for such withdrawal
or revocation, or at any subsequent date which in the judgment of the Director
or his or her authorized representative, shall be necessary for the protection
of the benefit rights of the employees covered by the plan. The Division shall
give the employer, the insurer or organization paying benefits, and all
interested parties notice of revocation or withdrawal of the certificate of
approval and an opportunity for a hearing.
Notes
See: 26 New Jersey Register 1326(a), 26 New Jersey Register 2131(a).
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.