New Jersey Administrative Code
Title 12 - LABOR AND WORKFORCE DEVELOPMENT
Chapter 21 - FAMILY LEAVE INSURANCE BENEFITS
Subchapter 2 - PRIVATE PLANS
Section 12:21-2.14 - Withdrawal of certificate of approval

Universal Citation: NJ Admin Code 12:21-2.14

Current through Register Vol. 56, No. 18, September 16, 2024

(a) A certificate of approval may be withdrawn or revoked upon notice and opportunity for hearing if the Division finds: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;

2. That the security for such payment is insufficient;

3. That there has been a failure to comply with the terms and conditions of the plan;

4. That there has been a failure to pay benefits to eligible claimants promptly;

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;

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;

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(b) A certificate of approval may be withdrawn or revoked effective as of the date of the occurrence of the condition, violation, event or omission forming the basis for such withdrawal or revocation, or at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.

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