§ 4712. Suspension or revocation of certificate of authority. (a) The
superintendent may suspend or revoke a certificate of authority issued
to a municipal cooperative health benefit plan under the following
circumstances:

(1) for any cause that would be a basis for denial of an initial
application for such a certificate, provided that the superintendent
shall not suspend or revoke such certificate solely due to the size or
composition of the plan unless the plan ceases to cover a minimum of
three hundred fifty employees and retirees; or

(2) failure to maintain the reserves and surplus required by section
four thousand seven hundred six of this article, provided that the
superintendent shall not suspend or revoke such certificate if the plan
has implemented a remediation plan acceptable to the superintendent; or

(3) the superintendent finds that the municipal cooperative health
benefit plan has refused to produce its accounts, records, and files for
examination or any member of the governing board of the municipal
cooperative health benefit plan has refused to cooperate or give
information with respect to the affairs of the plan or to perform any
other legal obligation relating to such an examination when required by
the superintendent.

(b) In the case of suspension or revocation of a certificate of
authority, the superintendent shall send a copy of such decision to the
governing board of the municipal cooperative health benefit plan by
certified mail at the plan's address. Upon the request of the governing
board, or any party that would be prejudiced by the suspension or
revocation, filed within sixty days of the mailing of the
superintendent's decision, the superintendent shall schedule a hearing
on such decision by written notice, sent by certified mail to the
governing board or party requesting the hearing. Such notice shall set
forth a specific date, time and place for the hearing, which shall
commence within sixty days of the mailing of the notice.

(c) Any certificate of authority suspended or revoked under this
section shall be surrendered to the superintendent, and the plan's
governing board shall notify all participating municipal corporations of
that decision in such form and manner as the superintendent may
prescribe, not later than ten days after receipt of notice of the
superintendent's decision requiring suspension or revocation.

(d) The superintendent shall publish all final decisions to suspend or
revoke the certificate of authority in regard to a municipal cooperative
health benefit plan.