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1 IN THE MATTER OF APPLICATION BY HORIZON HEALTHCARE SERVICES, INC TO FORM A MUTUAL HOLDING COMPANY PURSUANT TO N.J.S.A. 17:48E-46.1 -- rank: 1000

... June 1 of the calendar year the plan becomes effective. N.J.S.A. 17:48E-46.13(a). Thereafter, the MHC 'shall pay a limited duration business ... a period of seventeen years' on the June anniversary date. N.J.S.A. 17:48E-46.13(b). The total tax assessment for all eighteen payments 'shall ... take over management of the company. A-1121-22 6 N.J.S.A. 17:48E-46.13(c). If the MHC does not pay an annual tax ... RBC, the assessment is deferred to the following calendar year. N.J.S.A. 17:48E-46.13(d). The statute mandates the Commissioner review HHSI's plan ... DOBI] of any allocations of the annual assessments required by N.J.S.A. 17:48E-46.13, consistent with the authority assigned to the Commissioner by N ... system-wide health RBC' falls below 550%,' it triggers under N.J.S.A. 17:48E-46.13(c), a deferment of the annual tax assessment and ...

docket:	a1121-22
court:	NJ Superior Court Appellate Division
decided:	2023-05-31
status:	Unpublished
citation:
Document Size:	76854