Section 287.363 - Approval of application by Board: Format and contents of decision; responsibilities of and noncompliance by group1. A decision of the Board to approve an application to leave the Program will be in writing and will include, without limitation, the effective date of departure of the group from the Program and the dates for completion of any administrative tasks necessary to effect the departure of the group.2. If the Board approves the application of a group to leave the Program, the approval will be conditioned upon completion of the following actions: (a) The group must submit to the Board a completed release and waiver of rights agreement, in a form acceptable to the Board, obtained from and signed by each member of the group.(b) A contract, in a form acceptable to the Board, must be executed between the Program and the proposed opt-out plan of the group. The contract must set forth the terms of coverage for the group, provisions for the payment of premiums or contributions of participants to the opt-out plan and such other details necessary to effect departure of the group from the Program.3. On or before the 25th day of the fourth month before the effective date of the departure of the group from the Program established pursuant to NAC 287.369: (a) The completed release and waiver of rights agreement must be submitted to the Board; and(b) The contract between the Program and the proposed opt-out plan of the group must be executed between the Program and the proposed opt-out plan of the group.4. If a group whose application to leave the Program has been approved by the Board fails to comply with the requirements of this section or any provision of the decision of the Board to approve the application of the group, the Board may declare the contract between the Program and the opt-out plan of the group void.Nev. Admin. Code § 287.363
Added to NAC by Bd. of Pub. Employees' Benefits Prog. by R097-03, eff. 9-24-2003; A by R023-09, 11-25-2009; R002-12, 6-29-2012