§ 4401. Declaration of policy. (a) It is declared to be the policy of the state that employee welfare funds are of great benefit to employees and their families and that their growth should be encouraged; that the establishment and management of such funds vitally affect the well-being of millions of people and are in […]
§ 4402. Definitions. In this article: (a) “Employee welfare fund” or “fund” means any trust fund or other fund established or maintained jointly by one or more employers together with one or more labor organizations, whether directly or through trustees, to provide employee benefits by the purchase of insurance or annuity contracts or otherwise, and […]
§ 4403. Registration. (a) The trustees of every employee welfare fund shall register such fund with the superintendent within three months of commencing to do business in this state. Such registration shall be in such form and shall contain such information relating to the organization, operations and affairs of such fund as may be prescribed […]
§ 4404. Examinations; requirement. (a) The superintendent may examine into the affairs of any employee welfare fund as often as he deems it necessary, and he shall do so at least once in every five years. (b) The trustees of every fund shall be responsible for the maintenance of accurate records and books of account […]
§ 4405. Examinations; conduct. (a) Whenever, pursuant to this article, the superintendent shall determine to examine the affairs of any employee welfare fund he shall make an order indicating the scope of the examination and may appoint as examiners one or more competent persons not employed by the trustees of such fund or interested in […]
§ 4406. Examinations; publication. (a) All reports and copies of reports of examinations and investigations of any employee welfare fund, shall be confidential communications, shall not be subject to subpoena and shall not be made public unless, in the judgment of the superintendent, the ends of justice and the public advantage will be served by […]
§ 4407. Examinations; expenses. (a) The expenses of every examination of the affairs of any employee welfare fund, including any appraisal of an interest in real property, made pursuant to any provision of this chapter, shall be paid by the employee welfare fund examined. (b) For any such examination by the superintendent or a deputy […]
§ 4408. Annual statement. (a) The trustees of every employee welfare fund shall file in the office of the superintendent, annually within five months after the close of the fiscal year used in maintaining the records of such fund, a statement, to be known as the annual statement of such fund. (b) Such statement shall […]
§ 4409. Special statements. (a) In addition to any other statements or reports required by this article, the superintendent may make any inquiry to the trustees of any employee welfare fund or to any of its other officers, agents or employees or to any employer or labor organization representing any employees eligible for employee benefits […]
§ 4410. Annual report. (a) The trustees of every employee welfare fund shall within five months after the close of the fiscal year used in maintaining the records of such fund, annually file a report with the superintendent to be known as the annual report. (b) Such report shall be subscribed by the trustee of […]
§ 4411. Account statements by insurance companies, service plans and corporate trustees and agents. Every insurance company, hospital, surgical or medical service plan providing benefits under an employee welfare fund, and any corporate trustee or agent holding or administering all or any part of such fund shall, within four months after the end of each […]
§ 4412. Regulation under other laws. (a) Where the trustees of any employee welfare fund are subject to and comply with any law of this state other than this article or the law of any other state or of the United States with respect to registration, filing, examination, statements or reports, such requirements of this […]
§ 4413. Prohibitions. (a) The trustees of every employee welfare fund shall be responsible in a fiduciary capacity for all assets received, managed or disbursed by them, or under their authority, on behalf of such fund. (b) (1) No such fund and no employer or labor organization representing any employees eligible for employee benefits thereunder, […]
§ 4414. Supplementary regulations; extensions of time; service of process; records; loans; compliance. (a) The superintendent may from time to time promulgate appropriate supplementary rules and regulations to carry out the express provisions and purposes of this article. (b) For good cause shown, the superintendent may grant reasonable extensions of time for doing any act […]
