§ 58-49-35. Multiple employer welfare arrangements; license required; penalty.

§58‑49‑35.  Multiple employer welfare arrangements; licenserequired; penalty.

(a) It is unlawful tooperate, maintain, or establish a MEWA unless the MEWA has a valid licenseissued by the Commissioner.  Any MEWA operating in this State without a valid licenseis an unauthorized insurer.

(b) G.S. 58‑49‑30through 58‑49‑65 do not apply to a MEWA that offers or providesbenefits that are fully insured by an authorized insurer or to a MEWA that isexempt from state insurance regulation in accordance with the EmployeeRetirement Income Security Act of 1974, Public Law Number 43‑406. (1991,c. 611, s. 1.)