(a)        It is unlawful to operate, maintain, or establish a MEWA unless the MEWA has a valid license issued by the Commissioner. Any MEWA operating in this State without a valid license is an unauthorized insurer.

(b)        N.C. Gen. Stat. § 58-50A-60 through N.C. Gen. Stat. § 58-50A-95 do not apply to a MEWA that offers or provides benefits that are fully insured by an authorized insurer or to a MEWA that is exempt from state insurance regulation in accordance with the Employee Retirement Income Security Act of 1974, Public Law Number 43-406. ?(1991, c. 611, s. 1; 2019-202, ss. 2(b), 8.)