Resolution 9482 - Laserfiche WebLink

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5.5 Participant Member Withdrawal. Voluntary Withdrawal. At any time during a year, (but at least (5) months prior to renewal), a Participant Member may terminate its participation in this Agreement or in a Pool upon one hundred fifty- three (153) days written notice to the Trustees and to all Providers of programs in which it participates. a. In non -leap years, written notice would be due August 1 for groups renewing on Januaryl and February 1 for groups renewing on July 1. b. Voluntary withdrawal within (5) months of renewal may result in a financial penalty including, but not limited, to the amount billed to NJPA for administrative services, beyond the termination date and charged by the appropriate provider. ii. Withdrawal Relating to Participant Member Rate Solicitation. Participant Members are allowed to solicit bids and other information from competing sources of health coverage at any time other than within five months prior to the end of the contract period if so permitted by the relevant laws, rules and regulations. Risk Management Pool members are allowed, to the extent permitted by law, to solicit bids and indicate their intent to withdraw at least one hundred and fifty three (153) days prior to the next renewal date. a. In non -leap years, written notice would be due August 1 for groups renewing on Januaryl and February 1 for groups renewing on July 1. iii. Withdrawal Relating to Dual Offering. If a Participant Member offers Group Employee Benefits through an additional or different plan which, in the discretion of the Trustees, are considered to be substantially similar to those provided by a Pool in which the Participant Member participates, then the Trustees retains the right to deem that such Participant Member has withdrawn from the pool. iv. Withdrawal at Annual Renewal. If a material change in any term or condition of a Group Employee Benefit or Other Financial or Risk Management Service in which a Participant Member participates is proposed to commence as of the Participant Member's annual renewal date, the Participant Member may withdraw from the applicable Pool as of the renewal date, provided the Participant Member gives advance written notice of its intent to withdraw promptly (within 30 days) after receiving notice of the material change, even if such notice is given less than 120 days in advance of the renewal date. V. Applicable Laws. Participant Members are responsible for adhering to all applicable laws, rules and regulations, including those relating to bid frequency and timing, when initiating a voluntary withdrawal. 5.6 Effect of Participant Member Withdrawal. Upon a Participant Member's withdrawal or deemed withdrawal from this Agreement or from a Pool, the following rules shall apply: i. Withdrawal from this Agreement. Upon its withdrawal from this Agreement, a Participant Member shall be deemed to have withdrawn from all Pools maintained under this Agreement in which the Participant Member is participating at the time of such withdrawal. If a Participant Member no longer participates in any Pool, the Participant 10 Rev. 712015