2006 New Mexico Statutes - Section 59A-56-5 — Plan of operation.

59A-56-5. Plan of operation.

A.     The board shall submit a plan of operation to the superintendent and any amendments to the plan necessary or suitable to assure the fair, reasonable and equitable administration of the alliance.   

B.     The superintendent shall, after notice and hearing, approve the plan of operation if it is determined to assure the fair, reasonable and equitable administration of the alliance. The plan of operation shall become effective upon written approval of the superintendent consistent with the date on which health insurance coverage through the alliance pursuant to the provisions of the Health Insurance Alliance Act [this article] is made available. A plan of operation adopted by the superintendent shall continue in force until modified by him or superseded by a subsequent plan of operation submitted by the board and approved by the superintendent.   

C.     The plan of operation shall:   

(1)     establish procedures for the handling and accounting of assets of the alliance;   

(2)     establish regular times and places for meetings of the board;   

(3)     establish procedures for records to be kept of all financial transactions and for annual fiscal reporting to the superintendent;   

(4)     establish the amount of and the method for collecting assessments pursuant to Section 59A-56-11 NMSA 1978;   

(5)     establish a program to publicize the existence of the alliance, the approved health plans, the eligibility requirements and procedures for enrollment in an approved health plan and to maintain public awareness of the alliance;   

(6)     establish penalties for nonpayment of assessments by members;   

(7)     establish procedures for alternative dispute resolution of disputes between members and insureds; and   

(8)     contain additional provisions necessary and proper for the execution of the powers and duties of the alliance.