Section 4709. Plan benefits and disclosure

(a) The governing board of the
  municipal cooperative health benefit plan shall deliver or cause  to  be
  delivered  the plan document to all participating municipal corporations
  and  to  unions  which   are   the   exclusive   collective   bargaining
  representatives  of  employees  covered by the plan and the summary plan
  description to every employee  or  retiree  of  participating  municipal
  corporations covered by the plan.
    (b)  The summary plan description shall be subject to regulation as if
  it were a health insurance subscriber  certificate,  provided  that  the
  superintendent  may  modify  or suspend any provision of this chapter or
  regulation  promulgated  thereunder  pertaining  to  scope  or  type  of
  coverage, if the superintendent determines:
    (1)  such  provision of this chapter or regulation to be inappropriate
  for municipal cooperative health benefit plans;
    (2) such modification or suspension  not  to  be  prejudicial  to  the
  interests of covered employees, retirees or dependents; and
    (3)   such  modification  or  suspension  not  to  be  destructive  of
  competition.
    (c) Conspicuously printed on the first page of the plan  document  and
  summary plan description, in at least ten point bold-face type, shall be
  the following statement:
    "This  municipal  cooperative  health  benefit  plan is not a licensed
  insurer. It operates under  a  more  limited  certificate  of  authority
  granted  by  the  superintendent  of  insurance.  Municipal corporations
  participating in the  municipal  cooperative  health  benefit  plan  are
  subject to contingent assessment liability."