N.Y. Insurance Law 4711 – Examinations
§ 4711. Examinations. (a) The superintendent may examine the affairs of a municipal cooperative health benefit plan as often as deemed necessary, but not less than once in every three years, except that the superintendent may extend the three-year interval to no more than five years upon determining that the three-year requirement is not necessary to safeguard the interests of the public or covered persons.
Terms Used In N.Y. Insurance Law 4711
- Governing board: means the group of persons, designated in the municipal cooperation agreement establishing the municipal cooperative health benefit plan, to be responsible for administering the plan. See N.Y. Insurance Law 4702
- plan: means any plan established or maintained by two or more municipal corporations pursuant to a municipal cooperation agreement for the purpose of providing medical, surgical or hospital services to employees or retirees of such municipal corporations and to the dependents of such employees or retirees. See N.Y. Insurance Law 4702
(b) In connection with such examinations, the superintendent may exercise the powers set forth in sections three hundred six, three hundred eight, three hundred ten, three hundred eleven, and three hundred twelve of this chapter and subsection (f) of § 206 of the financial services law, and may also require special reports from a municipal cooperative health benefit plan as specified in section three hundred eight of this chapter.
(c) The governing board of every municipal cooperative health benefit plan shall be responsible for the maintenance of accurate records and books of account in regard to the plan.