CHAPTER 420-O SELF-FUNDED STUDENT HEALTH BENEFIT PLANS
Section 420-O:9
420-O:9 Suspension or Revocation of Certificate of Authority. –
I. The commissioner may suspend or revoke a certificate of authority issued to an institution under this chapter upon a finding, after notice and hearing, that the institution has failed to comply with any requirement imposed on it under this chapter or necessary to maintain minimum essential coverage status and that in the commissioner's judgment such suspension or revocation is reasonably necessary to protect the interests of the people of this state, including:
(a) For any cause that would be a basis for denial of an initial application for such a certificate;
(b) Failure to maintain the reserves required by RSA 420-O:5; or
(c) The commissioner finds that the institution has refused to produce its accounts, records, and files for examination or has refused to cooperate or give information with respect to the affairs of the student health plan or to perform any other legal obligation relating to such an examination or investigation when required by the commissioner.
II. Any certificate of authority suspended or revoked under this section shall be surrendered to the commissioner, and the institution shall notify all participating students of that decision in such form and manner as the commissioner may prescribe, but not later than 10 days after receipt of notice of the commissioner's decision requiring suspension or revocation. In addition, the institution shall submit a plan for the commissioner's approval for winding up the plan's affairs in an orderly manner designed to result in timely payment of all benefits, in such form and manner as the commissioner may prescribe.
III. All final decisions to suspend or revoke the certificate of authority with regard to an institution shall be public.