School districts and charter schools are entitled to an automatic waiver for any line of authority coverage where the employee pays the full amount of the premium. If the school district or charter school desires insurance protection for a particular line of employee-pay-all coverage, the school district or charter school must affirmatively petition the authority for coverage. In granting the coverage the board shall first determine that the school district or charter school meets the minimum participation requirements as established by the board as necessary, that the school district or charter school will carry the coverage through the end of the contract period and that approval will not jeopardize the stability of the fund.

HISTORY of 6.50.7 NMAC:

Pre-NMAC History: The material in this part was derived from that previously filed with the State Records Center and Archives under:

NMPSIA 86-101, Risk-Related Minimum Benefits and Risk-Related Financial Standards, filed 10/31/1986;

NMPSIA 86-102, Waiver Of Participation For Risk-Related Coverages, filed 10/31/1986;

NMPSIA 86-203, Waiver of Participation for Employee-Benefit Coverages, filed 10/31/1986;

NMPSIA 88-2, Definitions, filed 11/4/1988;

NMPSIA 93-10, Employee-Benefit and Risk Related Minimum Benefit and Financial Standards Participation Waiver, filed 03/22/1993;

NMPSIA 86-2, Definitions, filed 10/3119/86;

NMPSIA 93-1, Definitions, filed 3/22/1993.

History of Repealed Material:

6 NMAC 50.7, Employee-Benefit and Risk-Related Minimum Benefit and Financial Standards Participation Waiver, filed 10/1/1997- Repealed effective 09/01/2014.

[6.50.7.14 NMAC - Rp, 6 NMAC 50.7.14, 09/01/2014; A, 12/10/2024]