New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 48E-46.16

Current as of January 01, 2024 | Updated by Findlaw Staff

a. Upon the formation of a mutual holding company, the total number of full-time employees that were employed within a mutual holding company system shall be maintained for a transition period of 36 months following that formation based on the full-time employee count of the health service corporation as of September 30, 2019, except as provided in subsection b. of this section.

b. This section shall not:

(1) supersede the terms of any collective bargaining agreement; or

(2) require a mutual holding company system to replace headcount lost due to voluntary attrition or terminations for cause, including for performance, or replace any loss of headcount attributable to a decline in enrollment, market share, or loss of a major account.

c. This section shall expire following the transition period of 36 months following the formation of a mutual holding company.

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Cite this article: FindLaw.com - New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 48E-46.16 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-17-corporations-and-institutions-for-finance-and-insurance/nj-st-sect-17-48e-46-16/

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