Section 415-E:1 Definitions.
In this chapter:
I. ""Multiple-employer welfare arrangement'' means an employee welfare benefit plan or any other arrangement which is established or maintained for the purpose of offering or providing health benefits to the employees of 2 or more employers, or to their beneficiaries. This shall include plans established by any political subdivision of the state or religious organization, but shall not include any plan or arrangement established or maintained under or pursuant to one or more agreements deemed collective bargaining agreements under section 3(40)(A)(i) of the Employee Retirement Income Security Act of 1974, Public Law No. 93-406 (ERISA). For the purposes of this chapter, 2 or more trades or businesses, whether or not incorporated, shall be deemed a single employer if such trades or businesses are under common ownership or within the same control group as defined under section 3(40)(B) of ERISA.
II. ""Commissioner'' means the insurance commissioner of the state of New Hampshire.
III. ""Fund balance'' means the total assets in excess of total liabilities, except that assets pledged to secure debts not reflected on the books of the multiple-employer welfare arrangement shall not be included in the fund balance. Fund balance shall include other contributed capital, retained earnings, and surplus notes.
IV. ""Insolvency termination'' means the termination of an arrangement where the fund balance as of the termination date is inadequate.
Source. 1991, 246:1, eff. Jan. 1, 1992.